DVDs were not that far from VHS, everyone could plug DVD player into any TV and enjoy it. But BD came with HD - new resolution and even aspect ratio required ridiculous amount of investments into new hardware. You'd have to buy:
- new TV
- new BD player
- new discs with probably mostly the same movies at the beginning
Plus:
- HD had lots of weird and obscure formats and ridiculous confusing naming like HD/Full HD/Progressive HD/your mom's HD
- no affordable computer drives at first
- new DRM protection
- and many PC owners didn't even have HD-compatible (e.g. 1280x) displays! Let alone 1920x+.
- by the time BD-RW.. I mean BD-RE drives became afordable, flash drives overwhelmed the market.
So, adopting BDs was generally more challenging than it was CDs or DVDs. Next, they were a bit too late for "just storage media" use case. And finally, by the time people started caring about their personal cold data storage, BD production started shrinking.