First, it's random access. It's a faster way of getting where you want to be. You can't edit on digital tape. There are no heads to clean or replace. Hard disk recorders can be extremely rugged and reliable.
Hard disks provide a fast way to import and export big files to digital audio workstations.
It isn't going away anytime soon. The computer industry brings huge investments in new drive technology, maintaining a leading edge in hard disk size and quality. Other media just can't compete. External hard disk arrays may be connected via the rear panel SCSI port. Today's producers are recording audio for a variety of surround formats.