If this were true, there would be much more P2P networks today than fifteen years ago, but that’s not the case. According to [1], in 2004 BitTorrent accounted "from 20 to 35% of all traffic on the Internet". At that time the bandwidth cost was at least two orders of magnitude higher than today. The price of hard drive has since been divided by 40 [2] and the total Internet traffic has been multiplied by 40 [3].

[1]: http://history-computer.com/Internet/Conquering/BitTorrent.h...

[2]: https://www.computerworld.com/article/3182207/data-storage/c...

[3]: https://blogs.cisco.com/sp/the-history-and-future-of-interne...