The main issue with nobara is that it's handled by a single person. Almost everything you get on nobara you can get with a few commands on the terminal in fedora; and whatever patches they have under the hood will at best get a marginal performance boost and at worst cause major crashes and issues.
Nobara is a solid choice for people that don't like to tweak their system too much because it comes with everything you need to play games from the get-go. If you're more of a power user there's very little reason to pick it over fedora or arch.
Well Arch is great at what it does: getting you the latest packages of everything without needing to upgrade every 6 months or whatever; that does come at the cost of a bit less stability. There's EndeavourOS if you're uncomfortable installing from the console.