A 2.5x difference in IO/s adds up quickly.
As for HDD prices, neither 12TB nor 8TB were top of the line at the timeframes you mention. If you buy largest available drives, or a model lower, the prices have been going down. Not as much as we all would like, but overall the trend has been moving in the downward direction.
SSDs have won. Spinning hard drives are going to ship fewer and fewer units. The economies of scale are not going to improve ever again and are already getting worse. Further, the market just doesn't care about paying for capacity for the most part.
We peaked in 2010 with 650 million drives/year. Current unit counts are about one third of that. Compare to SSDs with about 400 million units/year.
I personally have some Exos 16TB's. There's a decent price history available[1] reaching back to mid-2019. Make sure to tick on "3rd party new". These aren't going to be the best prices available in many cases, but it's reasonably indicative.
The pair of 8TB I had previously are within $5 of what I paid in 2017.
- did you buy those drives in the "sweet spot" of capacity per dollar? 8 and 12 TB drives aren't the sweet spot anymore
- there's also this covid disruption thing
- when was the factory fire in ?vietnam?
- and how much competition is there? Are we down to two companies basically?