I second the "check the extensions" answer, because for me it sure doesn't — when working from home, I only charge a similar machine (M2 MBP) at night, so it's good for at least 9 hours of work, where work == VS Code + Slack + Zoom.
I’d probably try to disable them all, and see whether that has any effect in the activity monitor. If so, I’d turn them on one after the other to identify which one is the culprit.
FWIW, I rebooted and VSCode's energy usage is back to normal (less than 1/10th of what it was while it was consuming extremely high amounts of energy).
According to 9to5mac [1], my 2023 16" MBP should have around 14 hours of "wireless web battery".
Today it lasted 2 hours flat. I had around 5 smallish files open in vscode and wasn't doing anything at all interesting or intensive (no docker, no automated testing, just writing code, and pretty slowly, frankly).