They are able to fit 4x as many terabytes into a single server compared to when they launched B2, so it's as if their labor and land prices have dropped significantly.

It's fair to criticize the per-TB price increase.

Apparently they've been losing money, so from that perspective it makes sense to increase prices, but it doesn't seem like it's based on their costs going up.

(The unlimited home backup price going up is a separate matter and has much more cost-based justification.)