Just from a user perspective and with a little cultural background on that what people drives and what people needs: Notes to me are a very personal thing and if I do not have any device at hand I used to write lots of ideas in my little black Moleskine notebook.
The note-taking tool market was long time in hands of big players which offers lots of functions but also never provide the impression, that your notes are really your notes as soon you have added them into their solution like Evernote, OneNote, Bear, … okay, Bear is a more intimate company, but …
It is the same with NotionHQ, which is a very nice solution if you want to spend the whole day with the solution and play around with all bells & whistles.
The hype you mentioned is also a kind of marketing strategy, means, you do not make marketing a lot for your own product, but you have a kind of grassroot movement, a lot of fans flooding the boards and social media with the great news of a f*cking nice, new and absolute cool new thing.
That works fine, but it also has, in some cases, literally an ideological aftertaste, a religious movement of prophets and early adopters and fanatic disciples.
From a customer’s perspective, it has the impression to me that people have had enough of sharing everything, being transparent, being part of the cloud.
I want to keep my notes to myself and follow the maxim of the German writer Andreas Eschbach that data that you do not have on your own hard drive does not belong to you.
That leads me to Obsidian, and I think I am one of those people who want to adopt something that seems to be promising instead of being on the hunt for the rest of my life 