Earlier quoted context omitted.
I'm sorry, what is your justification for not using cloud-based services? Lastpass (like pretty much all of these online password managers) will work offline, so if the service goes down, you can still access your data locally.
Not the OP and personally less radically against cloud-based services... But storing something as critical as passwords with a SAAS company which is obviously going to be target of attack and may or may not have the engineering resources to provide a reliable quality of service... seems like a bad idea. Google(Drive) at least I trust to have the engineering resources to keep data secure, perhaps not from government s…
You do need to trust them enough that they will never sniff your master password (AFAIK even the web vault is local only) but eg. the command-line client is open source, so you can at least verify their protocol.
That said, I might switch to bitwarden at some point purely because it can be self-hosted.