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That is the point of E2EE. If anyone but the sender and receiver can see the messages then it’s not E2EE. This is the part that politicians and governments don’t understand (or just ignore). The idea that some designated authority can look at the messages when needed is entirely at odds with E2EE. It’s as valid as true = false or 2 + 2 = cat.
Bad argument.
It would hold water if their solution was proprietary and closed source. But it isn’t, and anyone else, literally anyone, can take Proton and use it in their project for profit.
Even if they closed shop tomorrow, or even just gave up work on Proton itself, we’d all still reap the benefits at no cost to us.