Most of the people in my life rely on cloud storage for their digital lives - mostly Google Drive or iCloud. It’s the primary destination for photos and videos for many people, and services like Google docs both store files and remove the need for traditional local storage.
Most people never stored their TV on their personal devices in the first place. People shifted from rental to streaming / DVD & Blu-Ray to streaming.
Every year I have more pictures and more documents and more stuff in general to store. That or I have to fuss with pruning things, which is a PITA and I'm reluctant to do.