I'm curious to see what Microsoft does. The big breakthrough with Rust was ownership, and Microsoft seems to agree on that. Rust has a lot of other baggage that could be dispensed with. Of course, Microsoft has their own baggage.
There should be no doubt about the agenda: Embrace, extend and extinguish.
Microsoft has a huge problem: thousands of coders who aren't disciplined enough to write reliable code. They need a language to provide the needed discipline. They tried making their own language, and now understand that they are not good enough at that, either. Rust, or a fork of Rust, might suffice.
They are not interested in displacing Rust from wherever it is being used. They just need something for their things, that their customers can also use. Lock-in is exercised farther up the chain.