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. Five years of warranty is the other draw, and on a drive you'll leave spinning for most of a decade that's worth having. 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 6.9 W at idle, which comes to 60 kWh a year for a drive that idles around the clock. A 4-bay box full of these gives 84 TB after one drive's worth of parity.
Specifications
Each value links to the Seagate page or datasheet it came from.