Notepad rendering other formats removes one of the specific reasons I use notepad: to strip the stupid formatting that all sorts of applications seem to want to attach to text these days.

Notepad handily strips away all the custom link namings and formats that totally fuck the expected output of a simple copy and paste. That's a big part of the its magic: it's immunity to the choices of marketing teams and dud management.

You can still do this in W11 notepad. Firstly, there's a global setting for having formatting/markdown being enabled at all, and secondly it only does the rendering for .md files. Finally, while formatting is enabled, and editting a markdown file, you have the option to toggle between formatted and "syntax" view (ie raw text).