I think a model like Dash would work a lot better: Rather than opting in my code to be sent up to Kite's servers, I opt in to the packages I'm interested in having indexes for. In some cases, as with node, there are ways to see what packages my project depends on and then those bits of indexed data could be sent to me.
My computer has a 512GB SSD. I could devote 10GB to indexes of libraries and my own code without blinking. The argument that it's too much data and therefore belongs in the cloud doesn't seem to hold up.
Also, there are cases where I'm not online... this is one of the great things about Dash. I have fast access to library docs anywhere I happen to be.