No, not "only". E2EE is now used as a dog whistle.
Who holds/controls the keys on both ends?
Who holds/controls the keys on both ends?
There's a "data encryption key", encrypted with a hash derived of your username+master password, and that data encryption key is used locally to decrypt the items of your vault. Even if everything is stored remotely, unless the provider got your raw master password (usually, a hash of that is used as the "password" for authentication), your information is totally safe.
A whole other topic is communications, but we're talking decryption keys here