Even though this may not seem to be a great addition, but still one useful feature it is. Digging through the new SkyDrive coding, Recycle Bin has been found in the SkyDrive app. However, it is not yet active.
The very purpose of Microsoft behind adding Recycle Bin to SkyDrive cannot really be guessed. But we suppose its purpose could be similar to what it has in Windows. Over there, users can keep the deleted items in the Bin until they are sure of deleting them forever. The same could be the thought put behind adding Recycle Bin for SkyDrive files.