Ho-hum, my LibreOffice on my local machine hasn't skipped a beat all day!
Isn't there an old saying about putting all one's eggs into one basket?
Well then your one basket is your machine, or your backup system. And Office and Onedrive still work IIUC, so you're not really comparing apples to apples.
" 'and' your backup system(s)." I've many.
It's simple really, I've no cloud accounts, and even my Android phone is de-googled. I'd never trust any data to the cloud and least of all to MS.
What's happened here with MS clearly illustrates one of my reasons. I find it very strange that so many use Onedrive, Office 365, etc. and trust them even though they've not one iota of control over their operation.
As we've witnessed, what they're doing is strategically very risky.