The data archive serialized the schema of the deleted object representative the schema in that point in time.
But fast-forward some schema changes, now your system has to migrate the archived objects to the current schema?
Of course, as always, it depends on the system and how the archive is used. That's just my experience. I can imagine that if there are more tools or features built around the archive, the situation might be different.
I think maintaining schema changes and migrations on archived objects can be tricky in its own ways, even kept in the live tables with an 'archived_at' column, especially when objects span multiple tables with relationships. I've worked on migrations where really old archived objects just didn't make sense anymore in the new data model, and figuring out a safe migration became a difficult, error-prone project.