1 TB is 124$ for 3 years now on your link.. I wouldn't call that cheap either. I can buy and own a 4 TB drive for that price.
With those prices it might be interesting to invest into self hosted on site NAS with 4 bays running a S3 storage, since that would work with enhance (as opposed to the default backup which is impossible to get working..). This is just for cold storage backup mostly, so the current "cloud" prices for that use case are not very endearing..