I like the model a lot, because it solves the "database ownership" issue, where your Password provider (be it LastPass, 1Password, etc) becomes in itself a weak link.
I switched to 1password which - at least at the time - offered a web-based fallback hosted from your own dropbox. Plus at the time you owned the data and were responsible for storing and syncing it. Dropbox support came out of the box but if you want you can use a local file.
I used to be a 1password user, but they were pushing their premium, cloud-based offering a lot and lacked Yubikey support so I switched away.
On the Mac, KeePass now feels like a better experience than having to pay a subscription for 1password.
The worse thing that happens to me is if I generate a password, and then Lastpass doesn't save it! It feels like a 50% shot it will actually save the generated password.
I have nearly 1000 passwords stored in it now, so it's going to be a huge pain to migrate.
If you load the same site using "load desktop site" the UI gets fixed.