A shoebox that can't be read over your shoulder
Password managers hold logins. Cloud drives hold files. Neither knows that a passport, an insurance renewal and a school form belong to the same person.
What's actually different
Built around people, not folders
Documents, reminders and records attach to family members, so "what does my mother's renewal look like" is one screen rather than a search.
Encrypted before it leaves the device
The server stores ciphertext. There is no admin panel that could show your documents, because there is no key to show them with.
Your copy, always
Export everything as real files at any time, on any plan, including while an account is closing.