Kryder's law & storage capacity : Cloud storage defies it

Kryder's law states that "The density of hard drives increases by a factor of 1,000 every 10.5 years that is doubling occurs every 13 months". The phenomenon is very much applicable for the previous two decades. The standard storage capacity when I first came across the desktop computer was 1Gigabyte(GB) ten years ago and now the 1Terabyte has become the standard.
Cloud storage : A challenge 
The next decades might not obey these laws strictly. The cloud storage might challenge this advancement in technology of drive capacity. As the internet becomes more affordable, the cloud storage is gaining momentum which is all set to become more pervasive. This will be a dis-incentive for any innovation in hard disc capacity enhancement. The movement of 1 Terabyte to 1 Petabyte might well be a much longer journey than usual.