We are using versioned s3 bucket for our use-case.
We'll be frequently updating the same file.
I would like to know how many versions of same file can the s3 bucket handle.
I wonder whether the oldest version will be removed if there is a limit the max files that versioned s3 can handle.
There is no easy reachable limits for different versions, but you'll be charged for each stored version.
https://aws.amazon.com/blogs/aws/amazon-s3-enhancement-versioning/
So if you are going to update file frequently you should consider setting some S3 Lifecycle in advance.
https://docs.aws.amazon.com/AmazonS3/latest/dev/object-lifecycle-mgmt.html