We have already read some great arguments about why VBScript should not simply be thrown into the trash. Let me add another one. VBScript developers never embraced ASP.NET. But that does not mean VBScript is worthless. It was Microsoft’s first popular web scripting technology. Not so much in the browser—it quickly became clear that JavaScript would dominate there—but on the server side. VBScript was a highly popular web technology between 1996 and 2005.
As soon as ASP.NET was pushed as the "new thing" by the Microsoft .NET developer team, many developers turned their backs on Microsoft and embraced PHP instead. ASP.NET was Microsoft's biggest failure to date. Between 2005 and 2010, they lost the web developer war to PHP and other technologies.
Now, if Microsoft decides to remove VBScript, they are eliminating the only successful web technology they have ever developed. And that is unfortunate. It even seems like a self-destructive, auto-mutilating act. "If we can't be the biggest, we don’t want to be anything at all." Well, good luck with that!
At this moment, Python is ready to fill the gap. Many (if not most) plugins for Visual Studio Code are specifically made for and by Python developers. There are also several web development frameworks for Python (Flask, Django, etc.).
But once again, this is truly unfortunate. It should not have turned out this way. The stubbornness of the .NET development team between 2002 and 2010 has led to Microsoft’s complete downfall as a leading software developer. Microsoft even lost it's browser to Google Chromium. Microsoft plays absolutely no role anymore in the wonderful world of web development. That is the only conclusion you can draw today. Nothing more, nothing less.