I think performance and density is why corporate data centres are heading for 2.5in drives.
Sit some laptop drives next to 3.5in models, and you can see they are about a quarter of the volume. So in the space of a single 3.5in drive you can fit four 2.5in drives. Sticking to one manufacturer to try and keep things fair:
4TB = £133
http://www.scan.co.uk/products/4tb-h...-cache-8ms-ncq
4x1TB = £200
http://www.scan.co.uk/products/1tb-h...0rpm-8mb-cache
So there is a hefty price penalty for us, but in enterprise drives I expect the gap will close a lot. So what would 2.5in drives get you? Each drive can peak 115MB/sec for a total 460MB/sec reading all at once dipping to an aggregate 200MB/sec reading all from their lowest point. If one drive fails, it doesn't take as long to rebuild an array of 1TB drives as it does an array of 4TB drives.
If you want to use 2TB WD Green 2.5in drives, then in the volume of a single 3.5in drive you can get 8TB!
So as I said, I think for home use a small number of 3.5in drives still has a meaningful cost advantage, but you are already losing performance and density by going with big drives. The cost advantage will decrease over time, and then 3.5in drives will disappear.