It has some other advantages that I couldn’t find anywhere else. I use the tier 1 plan. With this plan only the latest version of all of my uploaded files consume storage space in the cloud while older versions are kept in the cloud and I can still use them to restore my data. That really saves a lot of cloud storage. Tier 2 plan on the other hand uses deduplication which also can save a lot of cloud storage space.

So to make it short: Yes, you pay more but depending on your circumstances you save a lot of cloud storage space.