Tape? Yeah trust Sony to improve the capacity of completely redundant and obsolete storage media.
Are you thinking of cassette tapes? Because AFAIK high-density magnetic tape storage is still the standard for archiving ridiculous quantities of data, because it's more reliable and much cheaper than other media. They're also more comfortably transported. Taking entire drives to off-site backup is a risky endeavour. Last I heard (a year or two ago) Google primarily used tape for backup of everything Google.
Tape is still pretty perfect if you need to read a lot of data sequentially or don't have a need to search through it regularly, which suits archival uses just fine.
I ave no idea why, but I have carried an ADAT with me for the past decade. Actually, I guess it's built like a tank, takes massive abuse and always works. Guess I could have it repurposed to read graphene tape
[I really like this thread - also just read the quick release super adhesive thing - awesome!]