Precisely because of that I use a different solution: Dropbox + KeePassXC. If someone wants to access my passwords, they first have to get into my Dropbox account, then get the password to the KeePass file. At this point that level of security is good enough for me.

Edit: typos.

If cloud-based password managers are set up without using a keyfile or something similar, then I agree, they're single factor. I suggest refraining from using such password managers for this reason.

Thats just no true, most pw managers allow setting up MFA.

My LastPass requires master password + yubikey