The main problem with tape storage at small scales (including home use) has always been that tape drives are relatively expensive (several thousand dollars new)

The main problem with tape storage at small scales (including home use) has always been that tape drives are relatively expensive (several thousand dollars new), and buying just one makes it a single point of failure for your backup system. If your data set can fit on one or two dozen hard drives, then hard drives are the cheaper option (unless you keep them powered up and spinning 24/7).