If the TB is less than ~20, then the equation breaks since you have buy the unit in addition to the tape. So, yeah, it depends on use but I would argue on the consumer level most people aren't storing that much data. But I could be wrong.
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.