Cloud Storage vs Synced Files Confusion

Hi! I've read through a ton of posts, but none have been able to answer my question.

While trying to organize files today, I had issues accessing my Creative Cloud Files from my file explorer on my desktop. When I looked it up, I found a notice on Adobe's site that Synced Files have been disabled for personal accounts, so I assume that's why I'm having issues accessing my files. I eventually was able to gain access to these files, but herein lies my question:

Should I migrate all of my Synced Files over to Cloud Storage? Cloud Storage doesn't seem to have the ability to save anything other than .ai, .psd, and .xd files and I use Synced Files to store many Premiere and After Effects projects so that I can access them on the go on my laptop. I don't want these files to be errased one day, but uploading everythign to Cloud Storage seems unfeasible, due to the file type restriction.

Why are these two locations different? Is there some function I can use within the app to combine them automatically? I don't want to lose multiple years worth of work to part of a service shutting down.