Not quite sure where IBM's numbers here come from, their previous numbers don't match up to the progression of the LTO tape series' capacity. Maybe they are citing "research numbers" that they can do in a lab but aren't production-ready yet. I would certainly assume they are citing "compressed" data figured there.
But certainly tape has continued to progress much faster than most people would have imagined. Big tape libraries are still a thing in certain environments and they work very well, there is no better solution for bulk cold storage.