Yeah. If you have 1TB HDDs, that looks about 6 or 7 HDDs high, and the area of the top, if rectangularized, looks like about 8 HDDs. So that's ~50TB by a very rough estimate.
And I think you can actually buy either 1.5 or 2TB now, so that would make it ~100TB.
Not to mention that it would be probably considerably cheaper than this device used to cost back then. (I have no data to back up my claims, it's just a wild guess.)
He's just saying that 100 TB = 100 * 2^20 MB = 104 857 600 MB. Since the original storage device (the link posted) was 200MB in the same volume, that means we've improved by a factor of (104 857 600 MB)/(200 MB) = 524 288. So hard drives are now ~524288x denser storage devices than that spool.