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U.S. Gov't eliminates tape data storage at the GSA to save $1M per year, but tape isn't dead yet
(www.tomshardware.com)
Tape storage is great for backups and archival storage.
Maintaining it physically is very well understood.
The tapes are physically disconnected from the tape drive, so it's extremely difficult to get accidentally (or maliciously) overwritten/tampered.
They are much more resilient to bit rot & data degregation.
And for things like archival & backup, the extremely slow (or impossible) random access isn't an issue.
Modern LTO is as fast as an SSD, and has huge data density.
They might save 1m per year over the next few years, but I imagine the savings will reduce as the cost of maintaining HDDs increases.