Free to download, free to use, free to share, no data collection of any kind, but closed source.

A full 1:1 native clone would be too much to build without funding. Plugin/theme/api compatibility, canvas, bases, sync, and all the small Obsidian edge cases would make it a much larger project.

Without sponsorship or some sustainable funding model, AI'd focus first on the native markdown editor/vault part: local files, Obsidian-friendly markdown and edit on cursor presence.