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Ive seen LTO for sale in person at the $300 USD mark...but I admit that's a rare occurrence / fire sale. So that "as little as" is probably not fair. Sorry and retracted.
EBay shows some in the $1200-1500 USD range (and maybe closer to $3-4K brand new).
That now makes me feel stupid for walking past one at $300 ("tape drive? Who the fuck needs that ancient shit") but I'm willing to bet that wasn't a lto-8, in hindsight.
Even my LTO-3 claim is not as remembered; I can find a lto-3 for $60 USD here locally (not the $5 I jokingly claimed), with cartridges in the $15 USD range.
https://ebay.io/m/1UST3Y
https://ebay.io/m/Gcf77T
Not bad, but not 12TB per cartridge.
All of this to say; the DVD shuffler + pi intermediary (+ NVIDIA shield if needed) is probably the genuinely better version of this. Bizarrely.