I believe that my vault was similarly-low iteration, however my master password was an approximately 30 character string that contained no dictionary words.
Based on your understanding, does my master password length sufficiently mitigate the low-iterations, or is decryption a realistic possibility?
If your master password has enough entropy, you're safe with 1 iteration. It's not a great idea, and what "enough" is can be ambiguous. But if your master password is provably 70 bits of entropy or so, you should be fine.
But it's probably easier to just change your passwords anyway. At this point I wouldn't be suprised if the story gets even worse somehow.
Based on your understanding, does my master password length sufficiently mitigate the low-iterations, or is decryption a realistic possibility?