I too (usually) abhor subscription based software, but in this case I make an exception. And here's why...
If the software I'm using is security based then yes, I'm okay with a small, steady and reliable source of income for the developers. Since security (of any kind) is a moving target, I'd prefer a funded team working on the remediation of emerging threats in the security theater. Simply put, if tomorrow some new manner of compromise were to arise, I'd prefer the team that has my back to be able to find a remediation solution to said new manner of compromise whilst their paycheck "clears the bank". But I'm somewhat biased as I too am a developer and I'd rather prefer to be paid for my services. <grin>
1Password offers a meager monthly charge for its product and services. I am a 5 year customer and plan on staying with 1P for the immediate future. And, I'm thrilled they will be adopting FIDO's standards for Passkeys and integrating that into their product. It's nice to be platform agnostic for my password/digital vault requirements. I live in the Apple ecosystem but don't want to lock into their keychain passkey solution. 1P offers a wider range of platforms that support their product.
For the concerns about having your data stored in the cloud, you have to trust the math. Using a 2 key derivation method to formulate the keys needed to unlock your secrets, the data is secure at rest and in transit. Even a total compromise of their servers would only show encrypted data and password hashes derived from two keys (a unique random 128 bit value assigned when you create an account and your master password). To break this level of encryption using 2 keys would require more time and effort left in the presumed lifespan of the universe (i.e. Heat Death) [There is a white-paper where they describe how they protect their cloud-based data. Sorry I'm at a loss to find the link.]
I store EVERYTHING in my 1P vault. Insurance papers, Car registration, Tax documents and yes password credentials.
As a 40 year veteran of software development I sleep very comfortably at night knowing that my secrets are safe as long a I follow good opsec IRL and don't reveal either of the 2 key secrets.
My $0.02 on the matter. YMMV.
Peace,
GHPGG