I use Simplenote. It is quite minimal and if all you require is to store some notes, then it will work great else you might be better off with some more feature rich product.
It is owned by Automatic (owners of wordpress) so I have hope that they'll keep it working without much drastic changes or need to monetize it.
I use Simplenote as well. I find it to be a simple, no-nonsense product with everything I need.
The editor understands Markdown, and you can make a note into a webpage with a single click, for free. Notion, Obsidian charge money for this.
I use Simplenote when I attend talks to take notes. Or make small listicles.
Their support is fantastic, too. Despite it being a free product, support responded to me every time I reached out to them (thrice in last 4/5 years), and promptly solved my problem.
I checked out the website but fail to understand the business model? Who is paying for this and how? Like the features, but worry about continuity of the service without some form of payment.
It's a valid concern. Reasons why I continue to use it is because I like the product and I have trust in Automatic. They have a long history of supporting open source and it's far from their only product. They are making money via other products.
At the same time, my life wouldn't stop if the product disappears tomorrow from the face of the earth. It would be a minor inconvenience.
my understanding is that Automattic pay for it because it doesn't cost them much and their income comes from other sources, mainly WordPress. That is a pretty stable stream of income, but you're right that they could be treating this as a vanity project unless it makes a difference to their bottom line.