Dunno how far its come, yet, since I really don't pay much attention to this kinda crap, but...well, I read a bit back in this here thread that MS would kill modding because "look at the Xbox!!!!11111!eleventy!11" Wait, the Xbox is a console, isn't it? Since when has any mainstream console supported modding? There might be instances of individual games, or somewhat smalltime consoles allowing it as a selling point, but more times than not, consoles never support modding in the traditional sense. Level creation? Sure, I've seen that a few times, but not modding.
Think about it from a business standpoint: if Microsoft does purchase Mojang, and therefore Minecraft, what exactly would they get out of locking it into some draconian DRM architecture? First off, they'd have to divert time, effort, and most importantly money to integrate it into Minecraft. They'd then have to spend extra time and money on enforcing those copy protection schemes since many modern ones now require a connection to a company-run server, something else they'd have to maintain. They'd also piss off pretty much the entire fucking community and effectively kill the game, stifling sales. All in all, changing Minecraft in such a way would be a very, very bad business move, and they'd end up wasting the $2,000,000,000, which is not freaking chump change, on an IP that has become effectively worthless. And, let's face it, if they buy Mojang, it'll be for Minecraft. Everyone knows this. Minecraft is the only thing Mojang's done that anyone either knows of or cares about.
These portents of doom are nothing more than near-Fox News calibre fearmongering.