Yes, it relies on a Markdown note file for each row and the “columns” are YAML frontmatter and cached metadata for each file.

I am with you on this, I wish Obsidian would optionally allow you to use YAML or some other structured data directly in the fenced code block or base file.

I really, really want something that kind of takes an Obsidian-like approach to local databases, sort of like Excel/Airtable but with flat, human-editable text files that live on your filesystem with a schema driven property editor. It’s kind of a bummer that this gets so tantalizingly close but doesn’t take it to the logical conclusion. I hope they do it eventually or make it possible with plugins.