I'd go further than that and say for me personally, the fact it's just a file is a selling point, not a "good enough" concession. I can just put passwords.kdbx alongside my notes.txt and other files (originally on a thumbdrive, now on my FTP server) - no additional setup required.
There will be people who use multiple devices but don't already have a good way to access files across them, but even then I'm not fully convinced that SaaS specifically for syncing [notes/passwords/photos/...] really is the most convenient option for them opposed to just being a well-marketed local maximum. Easy to add one more subscription, easy to suck it up when terms changes forbid you syncing your laptop, easy to pray you're not affected by recurring breaches, ... but I'd suspect often (not always) adds up to more hassle overall.