I shoot more photos in a year than my Dad did in his life. There are more photos of my son's soccer team than were ever taken of my grandfather. (As of 2008 there are 2 billion photos on Flickr, and FIVE billion on facebook).
Until recently the challenge was to get enough data to adequately record the family history. Now we have the opposite problem, an embarassment of riches.
As of very recently, storing it is cheap. Finding something to put it in is now affordable, with home disk drives in the hundreds of gigabytes.
The challenges are managing it, and making it useful.