Do you expect regular updates? Security patches (including for zero-days)? Sync across all your devices? Backup and restore? 2FA? All of this requires dedicated ongoing work from the service side, and they are giving it to you for literally $3/month.
Security updates yes, but passwords are one of the most stable, least changing-parts of anything I do with a computer. File sync is also well understood and a commodity offering. In 35 years, the only thing that’s changed for me viz logging in is the introduction of TOTPs. I’d rather not have my password manager constantly changing except for security updates. I certainly don’t want to pay a a subscription service for a company to reshuffle the UI every five years.
I’ve switched to KeePassXC and Strongbox on iOS. It’s every bit as good as 1Password was for the last ten years, and I don’t have to worry about the future of the product locking me into crappy “growth” decisions. I’ll be donating a similar subscription fee to the maintainers of KeePassXC that 1Password would ask for.
I would gladly pay the $3/month if they were doing what you mentioned in addition to adding features. One of the problems with their new subscription model is that they're replacing existing support for password syncing with a forced adoption of syncing to their cloud.
Syncing to Dropbox (or others) is going to be removed with 1Password 8 and we'll be forced to either keep the old license of 1P7 and lose out on security updates, or, to start paying a subscription and accept that they manage the syncing instead. For many that's not acceptable, and it's a bit of a slap in the face for all the supporters they've had for years now who have been promoting their product through word of mouth.
