Maybe, but we'll never know because you've just traded one cloud solution for another. You cannot audit their code and by handing over all your passwords, you've just made your entire digital life dependant upon their continued financial success.

I cannot fathom why anyone would look at the situation today and decide that the solution is more of the same.

Get an offline password manager and keep your valuables out of the cloud. I like Keepass, but there are plenty of FOSS solutions out there that allow you to actually own your data.