Thanks for all the replies. Much appreciated. It confirms that I haven’t really missed much functionality or workflow, but just that Cubase and I aren’t compatible in this respect 
I do use the backup functionality to try to keep things clean and make sure nothing is being left behind. It is an extra step though and still leaves the drive cluttered with mostly empty folders that you have to remember to clean manually. And then I’m never really sure what folders may or may not include audio files that are related to some project.
The “Prepare Archive” is new to me though. Does that mean essentially the same thing as the backup-function, but without having to move the project to a new folder? If that is the case, is it then safe to rename the “untitled-xx” folder? All references will be intact and all audio takes will still be there, not just the currently used takes?
Odd name of that function though and it isn’t even in the same menu as the save and backup functions (File). Archive suggest something that you will file away and forget about. Something that is completed. That sounds more like a backup to me. Not something that you want to consolidate to be able to work with it more efficiently.
Also the help-page (Preparing Archives) is confusing:
After Completing This Task: You must copy audio files that reside within the project folder to the Audio folder or save them separately. You must also move your video clips manually, as videos are only referenced and not saved in the project folder.
Isn’t that what the function actually does, moves all audio files to the audio sub-folder in the project folder? If not, what is the point if it only moves audio files outside of the project folder to the correct location?
In the other DAW, I just launched it, tried out some ideas for a while and then either saved or just closed the DAW without saving. If I saved it, it copied all corresponding files to the new folder (if I saved into a new folder) or I could just save the sketch in the single default folder (which obviously became very messy), with all audio files in the sub-folder for audio. Alternatively, I just closed the DAW and it would just keep an “auto-save” (every few minutes or changes to the project) of the project and any related audio-files in the default sub-folder. This way, it was very quick to just start a template and sketch out an idea. If I wanted to save it, I would do that and then decide on a name. Every now and then I did save it quickly in the default folder, came back to it a few days later and developed it into something keep-worthy and then saved the whole project to a new location, using a similar feature to the backup-function in Cubase, which was just a simple tick-box in the save dialogue to also move all audio files.
With this solution I had one default folder with really just garbage ideas and random audio clips. And I knew that I could clean that folder whenever I wanted, without losing anything. With the Cubase workflow I’m never really sure, as it can leave audio files scattered around the drive, unless I always use the backup function.
Wouldn’t it be nice to have a solution that is a bit cleaner and fool proof than having to remember what you have backed up and not? I want to create music, not manage files 
Wouldn’t it at least make sense to at least consolidate the backup, prepare archive (with another name) and the save/save as… functions into the same dialogue? It is essentially the same function. I guess I should add that to the suggestion box