Simple things. Lemmy, for instance, has grown to ~60GB since June las year. And that's just the db and federated media since I don't really havr any uploads. The big instancea are easily into the hundreds od gigs - I know lemmy.ca had over 300GB of media alone last autumn.
On a more consumer level - high quality 4k media eats up storage pretty fast. The phones taking pictures and video in higher and higher quality - space requirements will only ever go up.