I do understand that your vaults are stored somewhere on your servers. This does have some advantages.
To my mind it has one big disadvantage. You have and control my most critical information, that is passwords/private keys to my finances, interactions with the state etc. not just my Netflix login. Yes, I understand the vault is securely encrypted as well as you can make it.

I would like to retain possession of my own vault. I can keep it on a removable physical device (like a Ubikey) so that I can plug it in for only as long as I need to access a password and then remove it. Nothing as secure as an air gap to the internet.