Ask HN: The economics of permanent Periscope.tv archival

Has cloud storage suddenly become a few orders of magnitude cheaper?

Periscope.tv has announced that every stream will be permanently archived by default.

YouTube already is replete with archives of Google Hangouts that are hours long, that hardly anybody watches.

How can all this be economically viable? Many of these videos are never going to be watched, but they're going to be permanently stored on the cloud, available for streaming. Can anybody offer some insights on this please?