OneDrive not only keeps file history, but has backups for each and every single file.Keeping a local backup is always a good idea. In my work, for instance, I use lots of files with the same name each one inside a folder with a client's name. It takes only a moment of distraction to overwrite the wrong file and neither Google or Onedrive keep file history. A local backup saved me a lot of work more than once.
You can restore each indivual file whenever you want, be it changes made 5 seconds or even rollback the file years.
All this without using extra storage for all those backups.