My sense is that storage server prices have had to come down to compete with both cloud (like S3 archival tiers) and roll-your-own solutions. The former are relatively recent and the latter have become more feasible as companies—Backblaze among them—have open sourced well-engineered designs. Storage server margin used to be insane, over 80% after COGS back in the 00s and only slightly less last decade, and there's still room to compete.