same here. I would love a tape drive at home. My dji osmo action cam is producing films at 100Mbps. A 1Tb drive can only hold 23h. That's 11.5h if you store the data twice for redundancy.
Tape Recovery Simulator 96K will initially focus on audio-casette data, Speccy-style (48K). Commodore 64 and other formats will not be supported, but that could probably change with enough pressure from fans.
Tape still has big advantages over other mediums: it's relatively cheap in terms of price/Gb, it's a lot less complex than hard drives, and a lot more recoverable than SSDs.
On the other side, it has minute-long seek times since the tape needs to be rewonund/ff (that's an eternity compared to already-deprecated milisecond-long HDD seek times) and it's not suitable for many write cycles (some tapes are even sold as WORM (write once read many), same as the old CD-R drives)
Unfortunately it's just for the professional market. Looking over some local IT shops, the drives cost around 1500E with 15Tb tapes priced around 80E. I was hoping for a portable tape player able to hold together all the world's music at studio resolution, but that's not going to happen.