Yep, though it depends on the use case. If you want truly cold storage that's super rarely accessed, LTO tape is really hard to beat on $/TB!
HDDs are quickly Falling off in the consumer space because SSDs are getting cheap enough, power consumption matters (for laptops), form factor matters (again, for laptops), and mobile entirely changed peoples' expectations of system responsiveness.
Even 20 years ago, the number of people (consumers, not businesses) I knew with tape drives was almost none. Today I know of zero.