My first impressions are that this is a feature without user demand. When I think of all the things I've wanted with OneDrive, this doesn't rank.
To be even useful, I would need much better performance: browsing for anything in OneDrive is way slower than with Dropbox (running on same devices). Dropbox also allows me to filter by folder so my searches aren't swamped by results from my work folders or album thumbnails from music collections.
When I look at OneDrive "on this day" results, my personal photos are swamped by image thumbnails from other collections.
I'd also like date search to work without it assuming that the world uses US date formats.
You really need to go back to reading UserVoice feedback about what is broken and what new features are requested.