Panda (and Bear) are amazing editors that make me dream of ditching Obsidian.
Obsidian’s sidebar is fantastic because it simply reflects structure in Finder/Files. Character case, emojis, folder structure, etc. Seeing the structure alongside tags would be useful. Maybe customizable smart groups too (such as “notes from the last 7 days”).
Obsidian’s “Daily Note” feature is also great. I can achieve something similar with Bear and Shortcuts but it’s not as streamlined. One way to meet this need without calling it “Daily Note” could be giving us a way to specify the default title and location of new files. Both title and location should allow for some logic, like that found in the Unicode Standard #35.
Wikilinks, templates, and extensions are all nice-to-haves but I would still switch to Panda without them.
EDIT: Also, iOS and watchOS apps are a must. I’d like to see iOS as feature-rich to the macOS version as possible. The watchOS app could be super minimal, like just the ability to add text via dictation or something. Maybe this could also be done via Shortcut but I’d love to push the action button on my watch and dictate something to my daily note.