Sure - but with HDDs, you tend to just move all your stuff during each update cycle, because the new generation then tends to have a multiple of the capacity you've had before.
CDs/DVDs/... feel very much more like a "long-term" storage solution, even when it isn't. Maybe it's because you can put them in shelves and forget about them, much like books?
Plus your backup probably requires dozens of CDs and DVDs, and perhaps they then fit on a handful of 4TB drives, and perhaps now they fit on a single 20TB drive.
For me, my storage needs increase more or less linearly, but storage capacity increases exponentially, making every cycle easier, involving less drives.
CDs/DVDs/... feel very much more like a "long-term" storage solution, even when it isn't. Maybe it's because you can put them in shelves and forget about them, much like books?