This is a very elegant app, available on Mac and on iOS. I use it to keep PDFs, which I can organize in folders and sub-folders (but not sub-sub-folders) and easily annotate. It’s also possible to make text notes.
I think it does need some polishing, though. When creating a new Subject, wherever your cursor is when you create it Notability creates it at the very end of all your Subjects and Dividers, which means you have to scroll down to find it and then move it up to where you want it. Another potential problem—ot at least a challenge for organization—is the lack of anything below Subjects (the equivalent of sub-sub-folders). It means that, to avoid endless scrolling, you may need to be a little bit creative about your organizational scheme.
Note that my main problem used to be that the iCloud sync didnt work at all reliably. But that seems to have become much better recently.
Kumarick about Notability, v2.0.2