Last time I used Dropbox, you can always get deleted versions back. They might make it difficult though, spamming the log with a gazillion created/deleted files. And maybe there is actually a limitation of, say, 10 deleted versions of the same file path (that might make sense)... but I don't remember seeing any of those limitations last time I looked at it (which was a few years ago).
But if you are a concerned customer, why don't you just head over to their help pages and see what the features and limits regarding history and file deletion are?