MarkItDown is a Python tool designed to convert a variety of documents, including PDFs and Word files, into Markdown format. User feedback highlights its effectiveness with PDFs but also points out its limitations, particularly its handling of tables and headings. There are mentions of competing tools like Pandoc, which provide different functionalities. Users express a need for more customization in processing and show skepticism towards the overall utility of converting complex documents into a simpler Markdown format due to potential information loss. Overall, the tool could be beneficial for straightforward text extraction but may struggle with formatting nuances and complex layouts, prompting a search for alternative solutions.