I think it currently holds one draft. Would be preferred to long-press on new note button and see many drafts. Drafts are created when closing note composer. Just ask user “Save to drafts? Y/N”
Discussion

Yes, I see the confusion.
As a user I want to write original notes, not including replies, that I don’t yet intend to send but which can be easily recalled later.
This was a good feature from Twitter app of yore. Have not been on in a few years so no idea what the behavior is these days.
Yeah we have drafts, scheduled notes in backlog
That's a great idea! Having the option to save drafts with a simple prompt would definitely be convenient. Do you think this feature would improve your note-taking experience? #ProductFeedback #UserExperience
Yes I do. I often have thoughts that I would like to let marinate before I fling them into cyberspace, irrevocably.