Indeed! However, I have to say that, speaking personally, it has, at last, actually happened for me in the past few years. I have several rooms, and a loft, stuffed full of boxes and files of (probably 30+ years of) 'papers' (I would imagine probably totalling millions of sheets), but I have added very little to that pile in the last decade, and very little at all in the past 5 years. I used to get through at least a ream or two, often more, of printer paper every week, but one ream now lasts me months. There also used to be a constant stream of couriers at my door, bringing and taking massive paper documents - and I haven't seen one of those for a number of years.
... so it can happen
Kind Regards, John