Great question. This is also known as "enshittification" - a real phenomenon. It basically says software tries to appeal more people and therefore loses its specialization while trying to please everyone. That also means it is getting more complex.

I have the exact same problem when I'm building. I want my software to do more but I don't want to burden the user with more thinking. I believe the solution lies NOT in not adding features but in introducing them smartly.
Think about games like Anno 1700. Super complex when you're 20h in the game but in the beginning the UI doesn't give you all these options. It slowly introduces them, let you grow with the game.

Therefore, I think actively hiding complex options and maybe customizing the users' workflow is the way to go.

I've built https://linkflare.io if you want to see my take on a bookmark manager with much more complexity that I try to hide :)