1Password 7 extension will stop working, must pay a subscription to upgrade

I just opened the browser and got the news... 1Password 7 will no longer work with Chrome soon, so I should upgrade to 1Password 8.

So I'm not extremely thrilled because I purchased a software that was perfectly fine until someone decided it was not, but you could say that's the price of progress, maybe? What I hate is that a license purchase is no longer available. I must pay for a membership. And with it they're also removing the "standalone vaults", so the possibility of owning my data and storing it wherever I want. I must now upload all my passwords to the cloud.