many car engine blocks have gone back to steel fwiw.
it all has to do with the type and quantity of forces.
Diesel engines are typically no more than 25:1 compression ratio and I am unaware of an aluminum block diesel *I'm sure there is one, just don't know about it*. Gas engines don't really go above 17:1. That compression ratio is easily converted to pressure since the "1" is 1 atmosphere, 1 bar, or 14.7psi. So 25:1 is roughly 370psi. That's a LONG way from 3000psi in most aluminum tanks. Aluminum is quite soft so you need a bunch of it to be able to resist bending forces which is why aluminum tanks are about 3x as thick as steel tanks. Roughly offset by the density of steel being ~2.5x that of aluminum, but the aluminum tanks also have flat bottoms which adds a considerably amount of weight to them.
If we want the best comparison out there, we can look at the Luxfer AL72, against the Faber LP85. Same diameter, same length, one aluminum flat bottom, one steel round bottom.
Both 7" long, both 26" tall. AL72 weighs 28.4lbs, the LP85 is 31lbs. Due to the difference in the wall thickness, there is a difference in water capacity, the LP72 holds about 10 liters of water where the LP85 holds 13 liters of water. Pretty significant increase in volume which explains the capacity difference, but the tank is about 3lbs lighter, and if you made it round bottom, or made the lp85 flat bottom, it would be about 6lbs delta. So of comparable physical dimensions, the aluminum tanks are considerably lighter, but because there has to be more material to resist the forces, the capacity is reduced. With this specific example, the wall thickness causes the aluminum tank to have a capacity about 75% of the steel tank.
If we look at aerospace, bike frames, etc. there is a minimum thickness required to resist bending. This is why composites are so brilliant because you can make incredibly thin structures that are incredibly rigid. There is no need for the actual strength of the materials in terms of tensile strength, or in this case resistance to pressure, but you need the thickness for the rigidity. Aluminum being less dense than steel is lighter for comparable rigidity, fiberglass even better, and carbon fiber one of the best materials out there. We don't really care about rigidity in scuba tanks, but it is inherent to the material thickness required to maintain that pressure.
We can make tanks out of carbon fiber, and some do, that are idiotically light, but idiotically light also means idiotically buoyant so the weight advantage on land is instantly negated by the need to put ballast on your body so you can become neutrally buoyant.
That all make sense?