I guess it depends on your threat model, but if you’re dealing with mission critical proprietary code then it should really never be leaving your own companies infrastructure, imo. If for some reason it is necessary to use enterprise cloud hosting, established actors like Github, Gitlab or even Bitbucket still seem like the obvious choice.
The issue is this “Gitea Ltd.” company (or is it “CommitGo Inc.” now? honestly pretty confusing…) which appears to have been created with the singular purpose of monetizing Gitea, appeared out of thin air with no input from the community that actually develops Gitea. They’re basically saying “you can’t trust those other smelly hosts that have existed for years and have contracts with tons of huge companies, but you should definitely trust us with your stuff bro!”. Seems off to me.
Perhaps it would be better if you clarified why you think it would be? There is no mention of passwords in the article at all.