Earlier quoted context omitted.
On the dock, yes. But if you minimise, try clicking the icon in the bar instead. (If I don't expect it to be minimised, I'm not going to start looking in the dock)
In that case, it's 2 clicks whether it's minimised or not: once on the bar icon, once on "Open 1Password". At least that's how it is for me.
Occasionally it doesn't do anything for me and I have to use the dock anyway.