10k $ is for a server with no hard drive. W/ 12 Gb disks, and with enough RAM, we're talking closer to 40-50k$ per server. Let's say for simplicity you're going to need to buy 15 of those, and let's say you only need to replace 2 of them per year. You need 25 over five years, that's already ~ 750k $ over 5 years.
And then you need to factor in the network equipment, the hosting in a colocation space, and if storage is your core value, you need to think about disaster recovery.
You will need at least 2 people full time on this, in the US that means minimum 2x 150k$ of costs per year: over 5 years, that's 1.5m$. If you use software-defined storage, that's likely gonna cost you much more because of the skill demand.
Altogether that's all gonna cost you much more than 500k$ over 5 years. I would say you would need at least 5x to 10x this.
