Because you bought it from AliExpress instead of a more reliable place and for probably way cheaper than what a real 16 TB USB drive would really cost. Hopefully, you learned your lesson though, and won't do it again.
Yes indeed. To be fair I did it for youtube content and expected as much. The highest capacity USB thumb-drive or SD card is 2TB. I have bought fully functioning Xiaomi 2TB USB drives from AliExpress for AUD$6