No, that's for a single raw copy (it could go lower based on implementation -- the sweet spot on $/bit pricing is around 8TB/disk right now, but that would actually be more expensive for us in total cost because of the increased infra/space/power necessary to run them). We could probably get a relatively trivial 20-30% savings on space for Wayback contents via compression, maybe more with work (various projects are underway to do this), but much of the rest of the contents are difficult to compress, or already compressed (music, imagery for books, video, software archives, etc). We have also historically been very reluctant to deduplicate heavily, though we are experimenting with it for certain types of content -- one principle of operation is that as an archive of last resort, we're unable to have a true deaccession plan as some other archives have. A compromise we make is that our hard drives are "landfill-ready" -- that is, the contents of a drive (assuming you can read the filesystem) are inherently meaningful, content is housed with its metadata, and so forth. This produces some unusual restrictions on how far we can take compression and certain types of bitwise redundancy.

Oh, Jason's numbers are fine. He's not the one asserting that you can buy storage for <1¢/GB (and he correctly notes that the Wayback takes up >20PB).