It makes most sense when you're chasing terabytes per pound and the NAS sits somewhere noise doesn't matter. Think garage, or a rack in the cupboard under the stairs. You also get five years' warranty, two more than the cheapest NAS lines. CMR, thankfully. SMR and parity rebuilds don't get on.
!Watch out for
Being 7,200 rpm, it's in the noisier, warmer class of drive, and you'll want it somewhere you don't sit.
No Backblaze failure rate for this one. They don't run enough of them, if any, for a figure worth quoting. On paper it makes 28 dB at idle and 32 dB seeking. Seagate lists 5.16 W at idle and 9.4 W working, which comes to 45 kWh a year for a drive that idles around the clock. A 4-bay box full of these gives 6 TB after one drive's worth of parity.
Specifications
Each value links to the Seagate page or datasheet it came from.