I think the current onboarding process on the welcome page is too lengthy for experienced vs code users.
Once you are experienced with VS Code you probably already have a working configuration, very likely also already synced to the Microsoft or Github Account.

So I think for experienced users, the welcome page contains too many steps that are in the way of just starting to write code.

On the other hand, totally new users of course might need quite a lot of guidance which is served in an OK manner by the current welcome page.

So I'd suggest that the welcome page in future asks the user in only one short sentence how experienced the user is (two options should be selectable: "I have experience working with VS Code" and "I am new to VS Code" .
If the user clicks on "I am new to VS Code", the old welcome page.
If the user clicks the other option, he only is asked whether to sync settings for VS Code from an online account (not mandatory, user should be able to cancel that process at any point).
If the user confirms that setting should be synced, the same process that currently starts after clicking the "user" icon in vs Code and then clicking the sync-settings menu item, should start