reStructuredText (reST) by itself can be pretty rough. reST combined with Sphinx is pretty great. I.e. the strengths of Sphinx far outweigh the weaknesses of reST. For big, professional docs sites (+100 pages, +10 contributors) I have pretty strong opinions that Sphinx is probably the most responsible choice, long-term.
> The most important difference between rst and markdown is that markdown is a lightweight representation of html, while rst is a midweight representation of an abstract documentation tree.
Yes, what this means in practice is that it's easy to customize common aspects of your site (such as how images are displayed). A teammate of mine on Pigweed recently created a shortcut for linking to bugs consistently. You type :bug:`59385981` and the link gets transformed into https://pwbug.dev/59385981. If we ever need to mass-migrate all of our bug links, it's now trivial. Another profoundly important consequence of this architecture: all internal links are guaranteed to always resolve (you get warnings/errors if you link somewhere that doesn't exist). I previously wrote about how baffling it is that this is not the industry standard for docs sites: https://technicalwriting.dev/src/link-text-automation.html
The other thing that Sphinx excels at: well-defined extension and theme APIs. It's not exactly easy to build extensions or themes, but lots of people have figured it out (including me). There's a pretty rich ecosystem of extensions and themes on PyPI.
Lately I've been calling Sphinx the sleeping giant of docs systems. It's already pretty great and with a little concerted effort I think we can collectively make it absolutely phenomenal. The upstream Sphinx repo now has a GitHub Discussions section that gets a little traffic; a lot of us seem to congregrate on the #sphinx channel in the Write The Docs Slack.