I came here to find/make this comment - especially with secrets management, I don't want to rely on an external vendor being up to access/manage my secrets. I want full access.
License the software, let me deploy and manage it.
That completely changes the kind of software that is being built, and would be a radical departure to their cloud based solution. Where do you store your secrets? AWS? GCP?
They'd get stored wherever is appropriate given what we already depend on to deploy software. If we deploy to our own data centre, that's where the secrets would go. If we're deploying to AWS, that's where the secrets would go.
License the software, let me deploy and manage it.