But a spinning harddrive contains electronics too ...
SSDs though need a fast processor to manage the flash memory for wear leveling, error correction, and keeping track of where everything is written etc. This requires more advanced chips, built on newer process nodes, which take a lot more energy and resources to make.
And SSDs also need extra chips like DRAM and obviously the flash memory itself.
https://spritesmods.com/?art=hddhack&page=3 has some data points on a 10+ year old HDD - 3 ARM9 feroceon cores + Cortex-M3 core. Doesn't sound too simple.
WD HDDs 20 GB+ have some FLASH inside for metadata offload.