Why the downvotes? This is observably true “for most people”
This to me, it's the opposite of observably true. You would think large drives would be most in demand for personal use.
I'm not sure that cloud storage kills anything. There's reasonable mistrust in it and much of the world lives with unreliable infrastructure..
cloud storage doesn’t make local storage irrelevant. just less relevant. drives still fail, new machines are built, etc, etc. and when that happens to the average consumer, they don’t seek out the biggest drive available. just whatever is down the street.
and just down the street doesn’t want to stock dozens of massive drives, lest the average consumers balk at the prices.
Most of the people in my life rely on cloud storage for their digital lives - mostly Google Drive or iCloud. It’s the primary destination for photos and videos for many people, and services like Google docs both store files and remove the need for traditional local storage.
Every year I have more pictures and more documents and more stuff in general to store. That or I have to fuss with pruning things, which is a PITA and I'm reluctant to do.