Is it possible to pay for a subscription and use a local vault?

I've no problem with the business model, but I'd rather keep the data to myself.

Edit: Answered my own question

> 1Password 7 from the Mac App Store will only support our hosted service, as that’s what you’re purchasing with a 1Password membership. If you install from our website, you’ll have to option to use a standalone vault synced via iCloud if you purchase a standalone license, or use our hosted service if you purchase a 1Password membership.