Earlier quoted context omitted.
Software grows to match the hardware. If storage goes up 100x, data will grow to accommodate. Some things won't grow, to be sure. Anything text-based, for example. But movies, music, pictures... would probably all explode in fidelity and thus size.
Would movies and music really explode? Music hit the ceiling long time ago - nobody's going to go for higher resolution / sampling rate than the current "uncompressed" sound. Big publishers are intentionally sacrificing the quality for loudness anyway. Movies can practically scale up to retina-equivalent on wall-size equivalent only. Even then not many people will want TVs bigger than they can look at without moving…
Edit: I'd imagine this is due both to a limited amount of storage, a limited number of writes to current sold-state mediums, and energy usage, all of which this technology appears to solve.