What justifies the huge subscription price increase?

I love 1Password and understand the need to raise prices due to investors need to see returns so I understand the business side of things.
Having said that it just doesn’t make sense from a personal point of view to renew at the new price when the competition provides a equal solution with a different workflow but something you will eventually get used to.

I renew in January and this will be my last year of 1Password.