On the one hand I think it's kinda just the natural progression of things. The reason we haven't been feeling the need for huge storage is because hard drives underwent a huge boom that rapidly outpaced our memory needs. Like even 10 years ago, 1TB was pretty much the standard, and kinda still is. We also used to have optical disks that most of the game data would just live on.
On the other hand, there is no reason for a remake of a PS2 game to take up 70 gigs.