VSCode is not tied to a specific language so the job of handling config files is left to the extension. Not every language has a fixed project structure so I think the major extensions have kept structure-dependent things out. In C++ for example there are CMake projects and GNU Makefile projects. Not sure why such extensions haven't bubbled yet.
Other IDEs have their own fixed project structure and a project config file specific to their IDE. This means running and debugging is easier in their IDE if your project works in the specific way intended by the IDE, but this locks you to their IDE.