I was wondering, does the EULA with Obsidian apply for Dynalist which it comes with too?
I’m not sure what you mean by this; Dynalist doesn’t come with Obsidian, at least in the sense that they have to be downloaded and installed separately. The EULA and Privacy Policy mention Dynalist a lot because it’s the name of the company that makes Obsidian (they just made Dynalist first).
Can it read what I type into Obsidian?
Dynalist “the company”—no. You can run the app in offline mode or watch the network access if you’d like to test this out. (See this thread as well.)