This is true. The value that in-browser JavaScript crypto does provide, however, is that it requires a MITM attack (which is definitely possible, especially for

This is true. The value that in-browser JavaScript crypto does provide, however, is that it requires a MITM attack (which is definitely possible, especially for state level actors, but by anyone with enough control of a trusted CA); It is useful against dragnet recording of all communications - as long as the key/password itself is safe.