QB Issue Resolution:

the make local copy provides you with a copy that does not contain all financial information, and can not be used locally, nor can it be used to upload to the old or a new QBO file
https://qboe.custhelp.com/app/answers/detail/a_id/1774/related/1

However that file can be opened in excel

Resolution for Issue 'I want to start over with Quickbooks. I want to download all the data I have stored into a readable format and start from scratch.' available: Yes (Solved).
Source: Intuit Community forum.

I want to start over with Quickbooks. I want to download all the data I have stored into a readable format and start from scratch.: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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