They mentioned somewhere on their site (I don't remember exactly where...it might have been in an answer to a question on the forums) that one of the points of 1Password 7 is to bring the standalone versions up to parity with the subscription version.
Right now, standalone and subscription are essentially different products, with all new feature work going into the subscription product. With 1Password 7, they become essentially one product with different licensing options.
It sure didn't sound like they plan to get rid of standalone.