Spinning drives might not be as fast, but the capacities are much higher.
You can get as much as 10TB in a consumer-level hard drive, which has made it feasible to basically A NAS (or network attached storage) is basically a tiny computer with an advanced storage controller.
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SHR allows for more flexibility in drive capacity, and it supports two-drive redundancy in larger arrays.
It also offers the most file management and recovery features when paired with a Synology NAS.
As storage has become cheaper, files sizes are increasing. That's why many of us have gotten serious about backing up data, and the cloud is only half the equation.
A photo taken with the Pixel 2 might be nearly 10MB, and that adds up over time. You should also have local copies of all your important files, and a network attached storage (NAS) machine is a good way to do it.
When you add drives to your NAS for the first time, you have the option of traditional RAID levels, but SHR is probably your best bet.