The tape industry is still billions of dollars per year. Enterprises still buy tape all the time, and tape technology is still iterating.
And tape is not even that competitve. It's like 1/3 the cost of HDDs, and has an 80 second seek time, making it completely unusable for most real time applications (still usable for theatrical movies).
Tapes are still used for enterprise backup, and for hierarchical storage systems (e.g. hot data on SSD, warm data on HDD, cold data migrates to tape eventually).
