Agreed. This just reads like a bad rant.
I didn't finish it either.
AgileBits are trying to change their business/revenue model and that transition is not suiting this user. Shame for AgileBits but you can't please everybody.
One thing I noticed is that he's not happy to have his encrypted password file in the AgileBits cloud. This is the way LastPass works too. I get some folks don't prefer this but I don't see it as a major risk. If you're using any reputable password manager (a set that includes 1Password IMO) then you're 100x safer than the mainstream even using the vendors cloud hosting.
The primary contention of the blog post and the tl;dr is v6 of the product allowed for a 'local' vault until a particular build and AgileBits isn't being open about this change, which the author feels is some slippery slope to other, hypothetical compromises.