I'm not sure if you're familiar with how Lastpass works in general, but all of the data you store with Lastpass is encrypted in almost an identical manner to your 1password vault. They can't read your passwords.
A "compromise" of Lastpass would require brute forcing each user's vault in order to gain any actual passwords, which would require an extraordinarily long time.
I know it sounds concerning saying "put all your passwords in the cloud" but the reality is that it's no different than using 1Password with sync enabled.