UPDATED 8/14/2018:
As we previously announced in MC138148, we will be providing an option to opt out of the versioning setting update. You can start opting out today using SharePoint Online Managem...
Updated Aug 22, 2018
Version 8.0
Blog Post
This is causing significant issues as items that do not need versioning are taking up large amounts of space and therefore eating into storage limits unnecessarily. The option to decide for ourselves which items should have versioning is essential. Removing that option is poor practice as it reduces control by the owners of the files. That in itself is dubious legally, I am sure.
Almost one year ago Microsoft responded above by saying: "We hear you and are making changes to accommodate different customer needs. With that said, we will be providing an option to opt out of the site versioning requirements. We will update this blog as well as the Message Center Blog when that becomes available so please stay tuned."
Nothing has happened in almost 12 months.
The situation is still unacceptable.
Microsoft - we pay you for this service. Our payments have REDUCED the control we have over our own files. And it has REDUCED the amount of material we can store due to excessive compulsory versioning.
When are you going to do what you said you will do a year ago?