Earlier quoted context omitted.
Yeah, clearly I touched a nerve :) But I still don't know what Obsidian gives you besides letting you write in Markdown instead of HTML. And that is basically a Markdown to HTML converter, as you pointed out.
It's hard to overstate the flowstate Obsidian enables with live / wysiwyg editor view -- enjoy the clean look of rendered HTML while typing simple markdown and kbd shortcuts -- "the whole is greater than the sum of its parts". There are many other reasons I love Obsidian, but most of all it's the core function -- the editor interface, atop my local, private markdown files.
We could have that exact same workflow and user interface with HTML.
I (presumably along with the person you’re replying to) don’t understand what value Markdown as the storage format is providing here exactly but I can think of many limitations it imposes.