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. WD backs it for five years, which is a long time in drive terms. 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. WD's datasheet puts it at 20 dB idle and 32 dB seeking. Power draw is 4.6 W idle and 5.7 W working on WD's figures, or 40 kWh a year if it spends the whole year idling. A 4-bay box full of these gives 36 TB after one drive's worth of parity.
Specifications
Each value links to the Western Digital page or datasheet it came from.