I'm not criticizing NoteCalc, rather I think somebody should create a lightweight note taking tool like that, I don't think it would be very difficult by leveraging the already existing TeX/ConTeXt/LMTX/LuaMetaTeX machinery, and it would blow the Soulver-like stuff out of the water. The main design problem could be deciding exactly where between ConTeXt and Soulver should the new tool/language lie power-wise, i.e., how much should it expose.
I'm not proposing using TeX directly, rather I'm proposing basing a new, simpler language on the Lua(Meta)TeX TeX engine, and probably also on ConTeXt/LMTX.