Sure there are. overall reliability for one. The spindle bearings on a 1.5 inch platter last years longer than those on a 5.25" platter stack due to coriolis alone.
We can also have a RAID stack of 9 1.5 inch drives that are hot swappable when failing.
A 5.25 inch drive with 9 platters fails on a platter and the whole drive is shot, even if the data can be rebuilt after the new drive gets put in and formatted and rebuilt completely. a failed single RAID drive rebuilds faster after a fail as well.
Hell, I can see an 18 drive RAID stack where each of 9 RAID elements is mirrored so even a drive failure would be immediately recovered from.
Little drives are where it is at because they are cheap to make. One head, one platter... it is all about cost of manufacture for maximized return, in this case drive capacity.
I would not want a 5.25 inch 20TB drive where a single failure could take down my entire archive, and even if it is backed up, the drive is hugely expensive at that point.
Gimmie ten little ones that watch each other's backs any day. Call 'em 'marines'.