>the reality is that it's no different than using 1Password with sync enabled.

Except that a users LastPass vault lives in the "cloud" so that a compromise of that password can likely open the door and makes it a more enticing target to begin with. Compared the likely hood of merely getting at the 1password vault (assuming it's not synced to the cloud) being a significant barrier.

Again, for me this discussion is educational, I'm curious how having this data in the cloud could ever be considered more secure than local storage.