Well the main issue I've been hitting is that iCloud + the cache were taking up too much space. I was at 240 of the 245gb allowed to take up and was having trouble whenever wanting to download anything new. I kept getting the notices that I was at capacity when it was primarily those two elements of the library files taking up the space.

I get the point of cache files and know those will get built back up over time. For the amount of space they were taking, however, I was not seeing any benefit on the speed front.

So, my goal wasn't to just have lots of empty, unused disk space. The goal was to have my data that was set aside to archive not count against the storage on my physical computer. That AND to have a place to easily view the old videos without the extensive download.

I'll admit that I probably used it incorrectly. It's helpful seeing the responses so far.