[pndy]

They'd probably turn this IM into family friendly safe bay with strictly moderated content - because let's be honest, nowadays anything goes in. Discord accounts at first would be offered an optional merge with MSA and in long time, you'd have to log into using MSA credentials only. Microsoft Discord branding would arrive. There would be a business oriented version created and MS would abandon Teams; basic Discord would have ads related to your activity - you could avoid that (along with telemetry) by purchasing a subscription as the current monetization options would be removed. A special version with github/git related features would be created - for free, but only for those who are really using it in code related tasks.

[anticensor]

Discord Nitro is the per-user subscription feature of Discord.

[pndy]

Yes, but Microsoft would probably prefer to offer such subscription among own plans - like 356, and that would also happen after Discord would get Microsoft branding. It's a pure guess of course but I think it could happen.