I love that this is basically just markdown with wiki links. I'm not too concerned about Obsidian going out of business and my notes not being useful anymore. Contrast that with Notion (which is great in many other ways), where I store my data on their cloud and even though I can export to markdown not everything is actually markdown (e.g. tables) so they just put a link to their site instead.
I also love that since this is locally stored, I have control of how I store my data. I have a private git repo, and just occasionally commit and push my changes.
I wish it were open source, that way I could feel better about the wiki links being useless if they go out of business. It's not a blocker for me though, since my notes are fairly straightforward and I mostly just use the links for table of contents files.
The downside of being locally stored is that it isn't cross-device capable. This limits me when I'm taking notes on my iPad. That said, I don't take many notes on my iPad so if I need to I can just manually transfer my notes when I get back to my computer. I can understand though that this would a be a show stopper for some people.
Overall, this solution works for me. I have high hopes that it will continue to improve and become even better than it is now. Thanks to the team for the hard work!