I tried them a while ago. Really liked it but put it aside till they implement href="https://www.w3.org/annotation/" rel="nofollow">https://www.w3.org/annotation/ as promised. Just checked href="https://h.readthedocs.io/en/latest/api/" rel="nofollow">https://h.readthedocs.io/en/latest/api/ and the v2 API in development has nothing to do with the W3C standard.
UPD: there is not a single issue open on the main repo wrt W3C standard implementation: href="https://github.com/hypothesis/h/issues?q=is%3Aissue+is%3Aopen+sort%3Aupdated-desc+w3c" rel="nofollow"https://github.com/hypothesis/h/issues?q=is%3Aissue+is%3Aope.... The post I took as a promise: href="https://web.hypothes.is/blog/annotation-is-now-a-web-standard/" rel="nofollow">https://web.hypothes.is/blog/annotation-is-now-a-web-standar...
If your use of a piece of software is contingent on something like that, it sounds like you didn’t really have a need for it in the first place
Rather, OP is probably already using one and don't see the point of migrating to yet another closed system.
Hypothesis has an open API - href="https://h.readthedocs.io/en/latest/api/" rel="nofollow">https://h.readthedocs.io/en/latest/api/
It's not the matter.
If you use a saas, unless it's open source and you can self host, you are at the mercy of it.
If the service is good enough and the team behind it seems in good faith, it can give you confidence for the switch.
But promising to adopt a standard then not doing it doesn't inspire confidence.
The system being closed source (no open API can change that), they need to build trust with some users. Particularly the tech saavy ones that have been burnt in the past and hold data that is precious to them.
href="https://github.com/hypothesis/h" rel="nofollow"https://github.com/hypothesis/h
href="https://github.com/hypothesis/client" rel="nofollow">https://github.com/hypothesis/client