If demand for hard drives is this high then it sounds like there wouldn't be near enough tape around either.

This is why I am buying a couple of LTO 6 tapes. Thus far I've been able to buy 4 for approx 120 EUR, 2,5 TB each. They have been around 30 EUR each the past years, and still are approx such price (leaning towards 35 EUR though). I bought a second hand drive for about 500 EUR, and a HBA for it.