On the one hand, Microsoft under Satya Nadella are… still evil, but less annoying about it than they were under Steve "Eats Kittens For Breakfast" Ballmer and Bill "Never Met Someone He Didn't Fuck Over" Gates. Satya just wants to rule the cloud and Office licensing, and seems somewhat aware that Windows alone is not suitable for that task, and that Microsoft's own programmers are mediocre at best.
On the other hand, watching FOSS nerds freak out at this has been amusing. Some will manage to move to self-hosting their own git servers again as people used to before Github centralized "decentralized version control". Remember how we all had our own Subversion and Mercurial servers (and Bitbucket if you wanted C-DVCS)? Good times are back. A lot of people are going to learn very hard lessons about backups, redundancy, and system administration.
On the gripping hand, Github owns Atom, and Microsoft also has VS Code based on Electron; are they going to fuck up my IDE of choice or even "integrate" it into VS Code? Ugh. VS Code is too much like coding in Eclipse for my taste, no fun.
Update 2018-06-04 from Atom slack:
lee-dohm: I just want to let everyone know that we're here, we're ok, and that as soon as I have any news to share that I'll bring it here to all of you :grinning:
Just to let everyone know, I've been given assurances that Atom remains key to GitHub. Our product roadmap is
set and the team will continue all of their work.