Why would they be lossy?
Because someone brought lossy into the thread as an option.
Free storage of unlimited data that is important to the world
Free to you is only upon gift of others.
Is this the lifetime of a rotating disk?
Once past early death can be many years, but amortization, depreciation, obsolete size/power, etc starts coming into play around there. https://www.backblaze.com/
Have you considered bulk tape storage?
In thread.
What about Moore's law?
Moore is just an observation over past manufacturing advances, not a law of physics. Chips are now down to sub-2nm. Actual laws of physics, hard quantum limits, tens of atoms, are starting to apply below that range. https://en.wikipedia.org/wiki/Semiconductor_device_fabrication https://en.wikipedia.org/wiki/Moore's_law This problem is also why cryptocurrency development should explore moving beyond first-gen blockchains that keep growing in perpetuity per transaction, to a chainless history-free state database whose forever size is naturally just the number of all unspent outputs. Some coins are working on developing that tech, but you'd have to find and post the links to them.
Every blockchain starts this way. People like making a few cents, some are passionate and have existing capital, others have a business plan.
They can start and like whatever they want, but unless they dream up a way to magically cut the cost of drives from $0.63 down to $0.03, they'll still be bankrupt in short order. Nothing is ever truly free but solar input, while it lasts.