2.24.22 UPDATE: We've been listening to your feedback, and we've made some design changes. We're releasing a new version that addresses the most common themes and makes it easier to achieve the previ...
Updated Feb 24, 2022
Version 12.0
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If you want to investigate further, you could compare the experience in OneDrive with iCloud. For what I understand they are now using the same API on macOS. Perhaps this is why the files now MUST be under ~/Library/CloudStorage, which was already the case for iCloud. I have tried to overcome this for iCloud with aliases, symlinks, etc, to other locations but never succeeded.
I have however not noticed any problems with iCloud in accessing my files or keeping local copies. Also the resource usage and performance of OneDrive has been horrible for a long long time, while iCloud just works. It's just too bad that iCloud is unusable on WIndows and Android, which is annoying since I am paying for the service and own various devices, not only from Apple.