Getting access to this data is the holy grail for attackers - it is preposterous not to have a local-only or "saved on iCloud only" model. Clearly the only reason they removed this ability was the juicy, juicy subscription revenue, which requires them to hold the data.
They may have avoided a breach this time but have they previously been breached? Will they be breached in future? The possibility of each is non-zero.
Needless to say, I'm still using the older version and am planning how to transition once it stops working after an OS update.
