I've been using Trilium for this same use case for the last two years. I don't see anything compelling in this new thing that Trilium doesn't already do.
We use Notion at work and one thing that worries me is how the hell I'd make a local backup of all the data we're putting on there. If there were a way to import my Notion data into something like this it would make a fantastic solution.
Worse than obsidian if you try and use it like obsidian, sure. But better than obsidian at being a Notion replacement for certain tasks.
Same reason there’s dozens of closed-source note-taking and project management apps. Some have different feature sets and workflows that enable different functionality. One might be great for your specific use-case, another might not. That doesn’t mean the latter doesn’t have any merit, or that it won’t be the perfect solution for someone else who has different needs.