Is Sony’s 140MB MiniDisc drive the next Betamax?

From the January 1996 issue of PC World:

Sony has great hopes for its MiniDisc Data format as the next-generation mass storage media. And why not? On the surface, it has a lot going for it. A blank 2.5-inch magneto-optical MiniDisc offers 140MB of rewritable storage, and Sony promises the discs can be rewritten more than a million times with no loss of data integrity.

MD Data was emblematic for the MiniDisc format as a whole. Great technology, but far too expensive for most people, and always outdone by emerging competing formats (CD-R, MP3 players). Still, I used MiniDisc all the way through high school and university, well into the smartphone era, and I will always consider it my favourite music format.