Is there really no recovering a deleted file?

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All the power of having a system run off the cloud and I cannot recover a file that was deleted by mistake?
I just had one of my guys in the shop accidentally delete a file and I see no way to recover it, and doing a form search made it seem like this is not a feature. Why? Every other cloud service I've used has a way to undo a delete, or look back and recover an old file.
This is exactly why we should have user permissions when working with others. I know this can be done with Fusion Team, but that kind of feature should not be an additional cost, especially when I've paid for ultimate. To me that seems very careless.
But, maybe I'm missing something and their is already a way... in which case. Never mind, ignore my rant. But if not, that is extremely frustrating that I just lost all that work.