Sometimes you might start a logbook for a particular purpose and once that event is over you might not need to record any more. Examples might be when you record a logbook just for a specific holiday, or perhaps you started a logbook for a diet program that is now finished.
Archiving the logbook means that you are putting it into long term storage. All your videos will be safe and you can always re-open an archived logbook.
Archiving will remove your logbook from your book menu, and make it inaccessible to and sharers as well.
Lookout for the archive icon to archive a logbook. It's at the top when you hover over your logbook title.