.NET is transitioning towards .NET Core for new development, as the traditional .NET Framework faces limitations in performance and support. Developers are encouraged to move existing desktop applications to .NET Core 3 for better compatibility and modern features, while .NET Standard serves as a bridge between different .NET implementations. The document also outlines significant updates in C# 8.0, including new data types and language features that will not be available in .NET Framework 4.8.