Based on my personal experience and the long list of comments, this disappointing update significantly impacts many users' workflows. Above all, the update was pushed with little to no prior warning. Not only does the proposed--or rather forcefully introduced--functionality seem controversial, but the update also includes bugs (e.g., the Finder does not communicate with the cloud provider, or the application crashes when requesting to download a copy of the files). The PM responsible for this should come out, own this poor decision, apologize to the users and provide a way to roll back to a previous version until this update gets sorted out. I honestly hope this gets picked up by the media because you deserve to be held accountable for the inconvenience you have caused to your paying customers. The least I can do is migrate my files to iCloud (i.e., at least deleting files does not bypass the Trash) and cancel my paid Microsoft 365 plans.