Earlier quoted context omitted.
Even a fairly middling password manager implementation is better than just about any other strategy that anyone is likely to use. Especially because for the vast majority, the other strategy is going to be reusing the same password ~everywhere and if you're lucky the might use a special password for their bank or something.
I guess for most people online, writing all their passwords down in a notebook is more secure than using a password manager. It’s just less convenient.
I would say a notebook is worse than a password manager. It's not strictly worse in every way, but on the balance it's not a hard choice.
A notebook is better than most other not-a-password-manager solutions though. So it has that going for it.