I suggest adding additional user-selectable graph layout options to the existing default approach.
Graphs are notoriously hard to layout in a way that best exposes the essense of the graph. Giving users a simple way to flick through these would be very usefull (and fun!).
Cytoscape.js is an open source powerful general purpose graphing engine with multiple layout options e.g.
I was just looking at the graph of my vault in Obsidian and a graph in Roam of the same imported vault, and I realized that Roam’s graph, while not very aesthetically appealing, is still very effective in displaying relationships and links without cluttering everything. Obsidian’s graph can definitely use some improvements. I was about to make this exact same feature request but then I discovered your post. The ability to change graph layout and algorithms would be greatly helpful. +1 from me.
Another inspiration from area of note-taking apps:
TheBrain with it’s hierarchical-local-graph and great outline-like-layout rooted in any node, unfoldable also upwards towards multiple parents.
I’m working on a graph view plugin based on the ideas of Neo4j Graph View that will use Cytoscape. Choosing layout options like these is definitely in the works!