I definitely see the benefit of storing my passwords locally and not some single point of failure, but I also wouldn't ever claim it's simple or even a good solution. It does help me ease up on creating new account to places I don't need because I think about having to create and sync up a new password between my devices.
How is that a single point of failure? You have downloaded copies on all your devices and the database is encrypted with your own master key, so even if 1Password is hacked there isn’t really a problem, just like LastPass hasn’t died when it had one.
