There's presumably a pretty strong lock-in effect where I might trust Lastpass, but I wouldn't trust some random app author with literally all my passwords no matter what assurances the app download page provides.
I would rather trust an app running locally behind my firewall than I would trust lastpass. If the app tries to sneak a copy of my passwords out of the network its going to have to find a way through the outbound firewall first. I have no such protection when using last pass.
