Back in the Bad Old Days before we had an effective QMS, we occasionally discarded All Of The Prior Versions Of A Document, only to subsequently discover that we needed one of those versions for a valid reason.
For instance, because an auditor wants to review the state of a requirement at a prior time, or because that prior version is relevantly referenced in the specifications of a process or product that we hadn't run in a while.
Now we definitely don't discard prior documents.
We do of course maintain proper controls over where and why paper copies exist, and over their use for controlled purposes. For all documents that might be subject to later review, we also maintain a chronological effectivity record.