Just as a data point for comparison, Dropbox charges $100/year for 1000 GB, but they don't do meaningful encryption, and therefore can de-duplicate your files vs. the files of all their other customers, which significantly reduces their storage costs (and allows for some entertaining information leakages!)
SpiderOak charges $120/year for 1000 GB.
Edit to add: SpiderOak deduplicates files within a single user's account (i.e. copies are free, and if you add another layer to a photoshop file and re-save, it won't take up the full space to archive both versions) but it is not possible [1] for us to deduplicate data across multiple users.
[1] https://spideroak.com/articles/why-spideroak-doesnt-deduplic...
Here's an explanation of the architecture I wrote in 2009: https://spideroak.com/articles/why--how-spideroak-architectu...