And how long do you expect the company to last after it loses its first million passwords?

"Unfortunately, one of the things that makes the site so secure is that we do not disclose the exact encryption practices."

I don't know dude, sounds super secure to me.

It will probably fold just as fast as Sony's PSN, or LinkedIn, or Yahoo did, after their breaches.

Those are clearly not the same. This is a password management service; PSN, LinkedIn, and Yahoo are not. They were also well established companies with large user bases.

My point was rather that if they provide a convenient enough service, a lot of people may continue using it after a breach. As PSN, LinkedIn, and others have illustrated, most people actually don't care about passwords and security all that much, especially their target audience currently storing all their password in a spreadsheet.