Let's clarify something... Editing updates the Preview image. Preview is a JPG used to display the current (edited) version of the image on-screen. This avoids re-rendering the edits every time you open an image.
Need to keep a copy of the original, if you want to revert back.
Something very important - the original Master image is never modified. That's the whole point of the system.
Non-destructive editing. There is no need to save a copy of the
original if you want to revert. You would need to save a copy of an
edit in order to preserve the edit prior to reverting to the original. The normal way to do this is to Duplicate an image. Afterwards, you can revert the duplicate and use it to create an alternate edit.
Previews are going to be smaller than most Masters; significantly smaller if you shoot RAW. There is only one Preview for each Master image (and one Thumbnail), unless you Duplicate an image. At that point, you still have one Master, but now have two Previews (and two sets of the metadata files that go with each version of the image).