Neovim is a hyperextensible text editor built on Vim with Lua scripting, LSP support, and modern architecture. It handles lua plugins, lsp, terminal-based, and extensible, and it's best suited for power users wanting a hyper-customizable terminal editor. It has been around since 2014, giving it a 12-year head start in building out integrations and refining the product.

The core product is entirely free. Since it's open-source, you can self-host for free with no user limits. It's aimed at individual users, so it's fast to set up but may lack team-management features if you scale.