Sony's Optical Disc Archive (https://pro.sony/en_AU/products/optical-disc) is alive and kicking. Each cartridge basically uses 11 optical discs for 5.5TB per Cartridge and ~300MB/sec transfer speed[0]. It's last update was in 2019. Too bad we won't see a new generation, as Sony has basically killed any future development.
Folio Photonics has just got some funding and they are saying they will be able to launch with capacities of 10 TB per cartridge.
ODA was never better than using LTO.
[0] https://pro.sony/en_GB/press/optical-disc-archive-generation...
Why not ? It seemed decent. Well - besides the lame Sony proprietary usual mumbo jumbo
I assume because realistically, LTO has already a large share of the backup market in business/enterprise, and for most people, offsite backups either through the internet, or 3-2-1 using portable hard drives are easier and cheaper.
ODA is expensive. The drives reportadly die quickly, and LTO is the animal you know. ODA only ever had one manufacturer. I believe LTO still has two or three? (IBM, HPE and maybe Quantum, but I think they are IBM).
Putting all of your eggs in one basket is never a good idea.
There were a few rumours going around that Amazon Glacier were using ODA for backups 10+ years ago, but I'm pretty sure they were just That-rumours.