It was not 2022 when this story happened.
The cost of backups also depends on your income. Stories like this led to more backups, but so did going from being a student, to first-job-out-of-college, to a senior employee.
There's a spectrum between a hard drive costing a full day's work at minimum wage to a few minutes work for a Googler, Amazonian, or a Metamate making $500k/year.