Yep,
I got same confusing storage banner. And Yep I really don't need one drive, just a money making scam.
I chatted with Microsoft Support and they assured me that my email was safe and my email had 50 GB and to ignore the pink banner they had an error and were fixing it.
I got him to send transcript of my chat.
Biggest problem, microsoft (for all the money they make with ads on my email); has dis-continued its telephone help support. Cheap bastards, they are just trying to sucker you in then trap you by holding your own data (which they see as their data) hostage for subscription service, aka lets monetize our ad clients.
Then they make it hard to copy (ie backup) your emails to your own computer.
They certainly make enough money from ads and spam, to service keeping your email, but they just want more.
So people will probably just start to leave for other email services. And heir ad money will go down. They would be better off just making it really good and simple and guarantee your storage., and they would get more email business.