I understand your point, but if my password vault was a self hosted piece of software and a self hosted vault file, I'd be nervous every day of losing data.
And I am, same as I am worried everyday about losing the keys to my apartment. I am speaking as a person who once only got them back by sheer luck (and a young mans honesty), after they fell out of a hole in my trousers pocket.
However, I would be even more nervous if the security of these keys were up to someone other than me. For example a random employee of a big company, whos access to the system I have no say in, who I never met, and whos actions I can neither see nor regulate.
Bottom line is: I prefer worrying about myself failing, than someone else. Because I can do something about the former.
And while I am certainly not qualified to fly an aircraft, I do feel that I am quite qualified when it comes to software engineering and systems administration.
I think the self-hosted bit is just for syncing, as long as you have multiple devices its not likely to lose data even if you don't follow the 3-2-1 backups.
