Isn't this the weak link in the chain? If you can convince the client that you're the person the data was encrypted for, it will re-encrypt it with a new key and send it to you, thus making the encryption useless. What's the protection against this, other than "don't worry, we won't introduce bugs"? (I'm not saying Random Twitter Troll will do this, but couldn't "the government" compel Keybase to re-encrypt your content with a key they have?)
What does the encryption add here that a server controlling access doesn't?