Yes! The build just produces a single executable. For example, in a Mac app this would be the file inside Contents/MacOS.
You then need to create a folder with an .app extension, set up a simple folder structure, and add some necessities such as the Info.plist file and your resources like the app icon/images. And codesign or notarize depending on your deployment requirements.
Code completion works great for dev and I've found VSCode to be snappier than Xcode even if the underlying engine (SourceKit) is supposed to be the same. The only thing "missing" is not having Interface Builder, but probably most serious projects use code-generated UIs anyway. You could, of course, still make an .xib file in Xcode and use it in your VSCode project. (I don't have a MainMenu.xib myself.)