Why an Otter.ai alternative depends on what you do with the words
Both tools turn speech into text, and there the similarity ends. Otter is optimised for a conversation with several people in it, where the value is being able to read it back later. Montaj is optimised for one person talking to a camera, where the value is the words appearing on screen in time with the voice.
If you have ever tried to caption a video by exporting a transcript from a meeting tool and pasting it into an editor, you have already found the seam this page is about.