90% of libraries consist of books that are never opened. These books were all produced by destroying and processing trees, sometimes with toxic chemicals, and their information density is orders of magnitude lower than that of a hard disk or SSD. Same with photo processing, where 90% of photos taken are discarded, and the toxicity of the chemicals is even higher.

So the question isn't simply whether storage is wasted; it's how much waste there is relative to the environmental impact. Granted, books and photographs don't need to be continuously fed energy to make the information available. However, the cost of storage is now so cheap that even with 90% waste, it's economically viable to keep it online. So the problem, if you can call it one, is that energy is too cheap, and externalities are not accounted for in the cost.