Which really begs the question: why not have it open-source at that point? Obsidian isn't making money from things hidden in the code, but rather their Sync service.
Might as well open-source it (and perhaps get more people helping with the development), keep the Sync service, and stem competitor projects like these in the bud.
That's definitely true, though probably only limited to CS (and maybe the top 5% of people going to investment banking). The vast majority of the most intelligent people at any Canadian university will stay in Canada, and given the current political situation, I think that's probably only going to become more true.
Also, anecdotally, I would wager that schools with significant numbers of Americans (e.g., McGill) probably have more US students staying in Canada than vice versa at this point (with perhaps the exception of CS).
Might as well open-source it (and perhaps get more people helping with the development), keep the Sync service, and stem competitor projects like these in the bud.