As currently implemented, the "All Vaults" view is rather "Favorite Vaults" (except on my.1password.com, which can't yet filter). I'd love to see:
Both views should always be available wherever you can choose vaults. Which of both should come first, that's up to you ;-).
1Password Version: Win: 6.8 / iOS: 7.0.4
Extension Version: 22.214.171.124
OS Version: Win 7 / Win 10 / iOS 11.2.1
Sync Type: 1password.com