Similar to “not your keys, not your crypto” is there not an analogy to be made for passwords? Genuinely interested in the reasoning of people who store their passwords in a cloud service they don’t control.
It's your keys. The master password is yours only. Plaintext passwords don't exist in remote services; basically they're a specialized version of a storage system (Dropbox?Google Drive? S3?) optimized for password entry sharing between devices, versioning, etc.