Why the classic format still works
The white-capitals-black-outline format survives because it solves a real problem: text laid straight onto a photograph is unreadable wherever the background is busy or bright. The outline guarantees contrast everywhere, on any image, without you thinking about it.
Most meme sites get the mechanics right and then charge for the exit: the free download carries their watermark, the clean version needs an account or a subscription. The joke is yours; the corner advertisement is theirs.
This one draws the caption on a canvas in your browser and hands you the pixels. There is no watermark tier because there is no tier — what you see in the preview is exactly the file you download.