I agree that there are risks either way, though like you said, the threat model is a bit different. SpicyPass isn't explicitly for web passwords. It's just a generalized key value store with added security. I use it to store my bitcoin keys for example, and that's probably not something you want to expose to the cloud and/or your browser.
With that said I don't rule anything out for the future.
With that said I don't rule anything out for the future.