Sounds like me.

I have lots of stuff.

My media files get replicated to my friends and family - that serves as “backup” for media, since it doesn’t change the multiple copies works as backup. That’s about 3TB.

My other files (software, user data, phone files, etc) are in a proper backup process which is replicated to those other devices. Backup is compressed, and there’s a lot of duplicate files so it really works.

My total storage use is about 5TB, with perhaps 1TB changing in a given month.