A cloud-based backup solution offers greater accessibility, scalability, redundancy, security, and cost-effectiveness than a traditional backup solution. Reach out to Cloud 9 Advisers for vendor-neutral, unbiased info and evaluation.
It's your data. It's your responsibility. Microsoft’s own documentation recommends that customers M365/O365 seek third-party backup solutions and/or services for whenever possible. There is no actual backup in place for M365/O365 and no self-service option for recovery.