Good point, but I didn't think of it that way just because, I saw things and read stuff that made me suspect it...

There is "speculation" spread about every single "privacy" focused service for exactly that reason. If you don't trust them, you are not using them. I'm not saying don't be suspicious, but also look at facts that make it unlikely of it being a honeypot.

But they did, and it worked for them before, and it'll always work unless no one start using that service, so there's no point in keeping servers operational.. time for a rebrand. plus they're getting paid.

Right, but there are plenty of easier services to target that provide more sensitive information. If you are a honeypot, you have to be profitable and expand your services or people will move somewhere else. That all takes time and work. Buying other services like SimpleLogin or Standard Notes and integrating their staff into your scheme would be unnecessary complication.

having it outside 14 eyes countries would be the most stupid decision the government could make.

It's not a story. So called 5 eyes, 9 eyes and 14 eyes refers to country agreements to share intelligence and make cooperation instant instead of having to go through proper channels that take time. I'm sure there are many conspiracy theories about specific things that might not be true, but there is no dispute that these agreements exist.

Government run honeypots are usually facilitated by federal agencies, INTERPOL, or EUROPOL, and if they want to run something in a country where they are not welcome it has to be court approved. Hence, it being run in 14 eyes countries, make it easy. Switzerland on the other hand not only requires everything to be approved by their courts, but also require using their specific privacy laws when making determination, which are the strongest in the world.

You only need to look at previous known honeypots to see where they originate and what they target.