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$5/TB/month is around the maximum I'd pay for a storage VPS. That's a common price point, and it's the pricing BuyVM use for their slabs for example (although you do need to also pay for a VPS separately for the slabs)
There's plenty of providers cheaper than $5/TB/month, particularly if you get it during a Black Friday sale. Once you go far over that, it'd likely to be cheaper to just use Backblaze B2, which has multiple redundant copies of your data rather than a single VPS that has one copy in one location.
I'm not sure if they'll bring it back this year, but last year during Black Friday, HostHatch had 10TB storage for $10/month. They only had that in Chicago and LA, but they had other storage VPSes in London and sometimes Switzerland, like 500GB for $22/year and 2TB for $40/year ($1.66/TB/month)
You can still buy HH 500 GB storage VP in Los Angeles for $20.
Would need in Europe.
I am waiting for to grab a 1-2 TB for ~30 Euro per year. For a private only Seedbox. By any chance you'd know of reliable providers with AUP that allows this? I know Time4VPS allows (that setup is woefully old and dismal but sweetly priced) and LiteServer too (this what I am using currently - awesome but quite expensive for the low usage I've).
I think you might want to definitely check your math (for first) and comprehension skills (for second). But anyway get what you are happy with.