The offer is 1 TB free for 3 years.
Since this Chromebook is for people who live in the cloud, one terabyte of Google Drive cloud storage*
It used to say 3 TBOn the other hand, if you weren't going to use that much originally, but buying this machine lures you into storing everything on Google Drive, and prices don't drop a lot in the next three years, it might in the long-term be a very expensive device...