Where is the Rust SDK?

We don’t use IntelliJ IDEA’s SDK concept to manage Rust versions because it is specific to IDEA and is not present, for example, in CLion. The path to Cargo is configured per project through Settings > Languages & Frameworks > Rust.

Does IntelliJ Rust have a debugger?

There is preliminary debugger support for CLion, see this issue for details.

Are you going to use racer or RLS?

No, we plan to implement most of the language analysis from scratch. This is a lot of work, but the benefits are substantial. We would be able to leverage the IntelliJ Platform infrastructure for incremental analysis and indexing. With our analysis, we can provide more flexible quick fixes, intentions and typing assistance.

The same applies to the formatter (that is also from scratch, but we plan to support running rustfmt as an action). It is necessary for proper working of almost any feature which is modifying source code.