I don't know, my own experience is that drive capacity increase exponentially but my storage need are fairly linear, bigger files but not that many more bigger files.
I've noticed that media files seem to look "good enough" at 720p for cartoons and 1080p for live action. I know some people obsess over the highest quality of everything (4k 10bit HDR) but even those came out in 2016[1] and aren't that popular. Higher definition like 8k is basically non existent, it can't run on old HDMI cables and needs both a beefy decoder (Blasting heat) and a powerful display driver as well.