Yeah, my entire steam library in conjuction with my VR media library is about roughly that size...
However in this day and age, with the internet speeds we are capable of achieving and the ease of accessibility to the desired content, there is simply no purpose behind such large storage capacities other than vanity. The only reason for one to be in possession of such a vast storage capacity is if you are generating the content yourself.
When I was in my teen years, fresh out of school, I used to have 1TB external hard drive for which I paid through the nose. I actually filled it up with movies and other content (actually mostly legitimate downloads believe it or not), and I had to, since streaming was practically non-existent and even downloading was unreliable- a spike of packet loss would terminate the connection and force you to begin the download all over again.
Ironically, piracy was a more reliable means of obtaining the content over downloading it legitimately via browser or browser extension, since you could leave it overnight and be sure it was finished the next morning over the notion of dying inside when you wake up and realize that the download has "failed" at 80% and that you'd have to restart it.
So yeah, back then you practically sold your liver for a big, juicy hard drive, so that you'd never had to go through that process again.