For all the complaints about Microsoft, I've yet to hear what they could do that would be so bad? Change the homepage to actually be useful? Improve the search? Give away free private repos?
But even so: I agree the fear that the product will be worse in a few feels completely irrational.
What I can agree with is that it’s unfortunate that it’s no longer seen as a neutral ground for development. It felt almost like a standard or like a piece of infrastructure, rather than a for-profit. But that was of course never the case. But now it becomes obvious, which might fracture the community (it was very nice to have everything in one place - e.g package managers literally started drawing stuff from github links). The appearance of neutrality and trust was the #1 feature of GitHub. Everything else is polish. Microsoft will have to work hard to keep the #1 feature working.