Welcome to the forum! 
Is… 
pamac build visual-studio-code-bin
… not good enough, then? 
We follow Arch as our upstream, and the packages in our repositories are pretty much the same ones as what Arch offers, only with a greater emphasis on testing and stabilization — unlike Arch itself, Manjaro is a curated rolling release.
By consequence, if we were to offer a package that is not already being offered by Arch upstream, then we’d have to maintain the package ourselves. And in the case of Microsoft’s Visual Studio Code, it would be redundant, since you can get the official version in pre-packaged binary form from the AUR — see the command I gave you higher up. 
As for whether the license disallows redistribution by third-parties, I don’t know, and my guess is as good as yours. I presume that a license file will be included if you install it, and given that you already have it installed as a Snap, you can go ahead and read it. 
As I said, it’s available from the AUR in binary form, and it can easily be installed — see the command above — via pamac, which is the ALPM-compatible package manager developed by and for Manjaro.
pamac has a graphical user interface — called “Add/Remove Software” in your system menu — and it can also be used on the command line, just like pacman, but with a few differences… 
-
pamac must not be used with sudo or as root, because it uses polkit for authentication, and it will prompt you for a password when needed;
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pamac supports the AUR, and it also has support — via plugins — for both Snaps and FlatPaks.
In addition to that, as you have noted yourself, we do offer code, and the AUR also contains vscodium, which, if my understanding is correct, would be a lightweight version of Visual Studio Code.
More importantly than that even in my personal opinion — but yours may vary — is the fact that GNU/Linux was never intended as an alternative to Microsoft Windows, but as an alternative to proprietary UNIX. And UNIX-style systems — including GNU/Linux, FreeBSD, et al — have their own tools and applications, which can do the same things, or even more, than that Microsoft-specific IDE. So I would invite you to explore the native GNU/Linux software offering instead.
