They said the same thing about the first hard drive. Why would anyone need such a huge amount of space? We will look back on this power in 10 years and laugh.
I used to maintain IBM 1311 disk drives. They used a removable, interchangeable disk "pack" that had 10 active surfaces on 6 14-inch disks, 100 cylinders, 20 sectors of 100 BCD characters each, total 2 million characters. About 10 pounds, and VERY fragile. Two units required about the same space as a dining room table.
On the table beside me is an old 512 megabyte USB "jump drive", the size of a pocket knife and about equally fragile. It operates in microseconds instead of milliseconds, and has greater capacity than the sum total of all the computers in Memphis from those days.