I tried to open a Word document that I hadn't viewed for several years, but got an error that the file was damaged. It looks like this happens sometimes, after searching for the error online. Luckily I was able to recover an earlier version of the file (via version history), but it was alarming that it happened in the first place (also I'm not sure if important edits were made in the latest corrupted version).
It's unfortunate how many cloud services default to storing on the cloud only instead of also keeping a local copy, and don't even provide the option to opt out. Even if you choose the "keep offline" option for several services, for unknown reasons, this doesn't seem reliable (Maybe I'm 'using it wrong'? But in practice, I've found myself having to download files that I was sure I set to keep offline.)