At long enough time frames, don’t you need to minimize the lifetime costs of storage media? Excess — let’s call ’em “hard drives” — are wastes that need to be replicated eventually (more efficiently than we can do today, likely, but manufacture is surely always going to be very costly relative to computation).

Unless there is reason to believe the cost of the compression calculations per unit will decrease, in which case there’s some future crossover between electricity bills and the cost of building “RAW Storage Facility 865,542,278.”