We have thumb drives that can store petabytes of data?
Or did you mean the "big data" crowd which thought 500GB was noteworthy? I don't think anyone took those serious, neither in 2010s nor now. That was always "small" data
Most companies using term "big data" had datasets in TB region. One company I had a gig at had full Hadoop cluster setup and their whole dataset was 40GB. Their marketing had all the big data adjacent keywords over the brochures for clients.
> We have thumb drives that can store petabytes of data
We do?
My rule of thumb was "can it fit in RAM on a server?" If it can, then it's not big data.
500GB is in the "fits" category.