Actually, no. Reread their answer. Consider:
- LastPass does NOT have your decryption password. If you lose it, too bad. But they can't be compelled to divulge it, because they never had it in the first place.
- In order for Emergency Access to work, they would either need your decryption password in order to share it with the recipient (bad bad bad), or the recipient would need public/private key access, as they explained. They chose the secure option, which requires the recipient to have an account. (No, they can't just "log the email address" for later, because key-pairs are based on the intended recipient's master password).
- Ok, so what if the recipient creates a free account with a weak password? That's a new attack vector, right? That's very likely why Two-Factor Auth is now free for all accounts, even the free ones. Very user- and security-focused. WTG LastPass.
I get that it's not seamless. But in this case, sacrificing seamless for security is absolutely the right move.
Please, don't encourage some product manager at LogMeIn that the userbase prefers otherwise.