I remember like 15 years ago when OneDrive came out with 1TB cloud plans and I remembered thinking at the time that it was insanely huge for this new "cloud thing", as I only had like a 250gb HDD at the time.
Gradually, as both disk and data sizes crept upward over the 15 years, we got to the point where you can now buy a 12TB disk for under $100, yet the 1TB OneDrive plans have had little change in price. The free tier is actually SMALLER today than it was back then, as they reduced it for new users at some point from 15GB to 5GB. It's not just OneDrive, this applies to basically all cloud providers.
Even my internet connection speed has increased 10 to 20 fold since then. If they were operating profitably back then, I would expect to see 10TB for $120 a year OneDrive plans by this point in time.