After almost three years of using Obsidian as my primary notes environment, I have arrived at a clear-eyed view of its limits. The graph is beautiful and mostly useless. The real value is in the plain-text Markdown files, which will outlast any application (original inspiration Derek Sivers).
The mistake is to treat a knowledge base as a product. It is not. It is a process. The act of writing a note is the work. Whether the note gets linked to seventeen other notes is secondary. A PKM system that takes more time to maintain than it saves in retrieval is a hobby, not a tool.
I have stripped my vault back to: daily notes, source notes, and atomic notes (in the Zettelkasten sense). No MOCs. No templates more complex than a heading and a date. Simpler is faster.