Hard disk drive prices are also soaring. Looking up a random WD drive: up 70% since July, a Seagate drive, up 50%

For $125, which is also about the price of one year of cloud storage, you can get a hard drive big enough to store half a million photos and also back up a million photos. It probably won't ever go over $200.

And the hardware to serve that hard drive is somewhere between free and another hundred.