Actually a sensitive product is exactly where this does NOT make sense. No matter how good their security is with their cloud version it will still be less secure than having a vault locally on your disk. That is a fact.
Subscription services to me are only justified if they are providing a SERVICE which they are with the web version and ability to sync through their own servers, however, using a local version with your own vault can be done without any service at all.
So to me this looks like them intentionally crippling their own software in order to force people into paying a subscription fee that is not necessary. They already hide the ability to purchase a standalone license for 1Password 7 trying to get people to pay the subscriptions so this is the next logical step.
Subscription services to me are only justified if they are providing a SERVICE which they are with the web version and ability to sync through their own servers, however, using a local version with your own vault can be done without any service at all.
So to me this looks like them intentionally crippling their own software in order to force people into paying a subscription fee that is not necessary. They already hide the ability to purchase a standalone license for 1Password 7 trying to get people to pay the subscriptions so this is the next logical step.