"they do seem to have options (e.g., they could hand bags of money to Toshiba to break up this quasi-duopoly)"
It would be pretty interesting in its own way if Big Tech handed Toshiba the money and pushed HDDs back into a three-player oligopoly again lol.
How likely is that, though? I really want to demolish the HDD bulls who argue that memory is cyclical, while HDDs are somehow a secular up-only story.