Sure, flash storage keeps increasing, and 4TB on an SD card is pretty amazing, but it's not a hard drive, and SD cards aren't really that reliable, nor can they be used as long-term offline storage.
Good ol' spinning rust HDs are the only thing that make any sense for archiving data right now, unless you have enough data to make LTO tapes economical (and here you have to worry about the tapes being readable with newer generations of drives, so you still have to cycle the data to newer tapes). (Re)writable optical discs were supposed to serve this purpose, but they utterly failed at it.