For large amounts of inexpensive storage where speed isn't a primary consideration, spinning drives are still a viable option. There's a reason why I have an 8tb spinner in my 2019 iMac.
For pretty much every other use, though, SSDs are king. That same iMac I mentioned above mostly runs off a 2tb NVMe drive, and I'd not do it any other way.
It's been quite a few years since I had a main/primary computer that ran off a spinner. Even for some of my older sort of still used computers I've started either dropping in SATA cards for desktops(not always easy to get Mac bootable SATA cards, but they are out there) and using mSATA-IDE bridges for laptops. Even on an old ATA-100 or ATA-133 bus, an SSD can reliably saturate it(I typically measure Apple PowerBooks at 92mb/s using mSATA drives over an ATA-100 bus). Even on a slower bus, there's still a noticeable difference in random read, which is one of the biggest things that makes things feel faster.