Depends on what you do. If you do video, HDDs are actually behind the tech. Every time they double the resolution (DVD -> 1080p -> 4k -> 8k), you need 4 times more space. That's not even considering lossless formats, which need even more space.
Same with photography. Each raw photo from my 5D II is 25MB. The megapixel race isn't over.
Now you've got me curious. Are you saying lossless video formats require more than four times the space to store four times the pixels? How can that possibly be?
I believe OP was meaning that the storage requirements for compressed video are already increasing at a huge rate, and it's exacerbated if you are working with uncompressed video