The tapes? Yes. The hardware, though? I'm not sure I would bet on having compatible hardware to read a particular LTO generation tape, decades from now, given how specialty the hardware already is. I don't think there's any free lunch to be had here: the storage media needs to be viable, and you have to have a recovery strategy that's equally viable as well.

EDIT – that being said, "tape as a service" does exist... it's called S3 Glacier.