Well, I base that on my own personal observations. I've never needed any more than about 175GB, which is my current, and might i add, abusive use of the drive. I guess if you have tons of videos, hi res photos, music, etc. then maybe you need more, but I don't and I don't think a lot of others do either. Big hard drives just encourage storage to become large garbage bins. People write to them for something they need only once or twice, and instead of getting rid of it when done, they leave it there. If you clean up after yourself, you'll find you don't really need that much storage.
A few decades ago people thought a 30MB HDD was a real whopper, and yet they survived with it. A 240GB disk is enormous compared to that. Where's all the space going? Obviously things like music, videos, and even photos were impractical decades ago, but still, the fact that people write once, read once, and then let the one time only files remain in place forever explains this enormous need for space. Like I said, big drives encourage not garbage collection but garbage keeping. It's sort of like everyone has become a pack rat.
It depends on what you use it for. If you browse the web, watch online videos, do e-mail, etc. then I suppose someone could live indefinitely with a smaller drive. I know a guy that's a photographer/videographer and his projects are huge, often gigabytes in size, and he can hardly delete them when they're finished. Someone that needs access to multiple OS versions like a developer could also easily need much more storage. This isn't necessarily an indication of being a pack rat...their work may require long term storage of large data.