It's simple to setup and will work forever instead of paying for different providers that might shut down or increase their prices.
I originally built it for my own setup (multiple devices, encrypted files, etc.), and it kind of grew from there.
Not everyone has a NAS at home, so the idea behind syncding.com was to provide a simple, encrypted online Syncthing hub that just works without the usual setup — with built-in ZFS snapshots for versioning and recovery.
Always cool to see others using similar workflows.
As a disclaimer, no I wasn't paid and have never been contacted before by Syncding, just a happy customer.
I'm biased but I'd say the benefits over Google Drive are: 1. end-to-end encryption, 2. seamless integration with the app (e.g. version history), 3. granular control over what settings and files are synced for each device, 4. shared vaults.
In addition Obsidian Sync helps keep Obsidian 100% user-supported. Obsidian is not subsidized by advertising or any investors. And you can actually contact the team if you need help. See also: https://stephango.com/vcware
I'd pay for the option to host my own server with the official sync but they don't offer that for now.