It depends on the version of mt-st, however, this repository performs long erase. Your mt-st also performed this, considering the amount of time.
Here is a quote from man page:
Erase the tape. Note that this is a long erase, which on modern
(high-capacity) tapes can take many hours, and which usually can't be
aborted.
First, long erase sets EOD to the current position, according to LTO SCSI Reference. Then, it writes Data Set Separator (DSS) pattern from the new EOD to the end of the current partition (EOP). DSS is a repeated binary pattern 100 000 000, according to LTO Specification from ECMA.
Thus, if you invoke mt -f /dev/st0 erase at BOT position and there is only one partition in the tape, then the drive writes EOD at BOT position and then start to over-write data with binary pattern of 100 000 000 100 000 000 100 000 000 ... until EOP. This can take many hours depending on capacity and transfer rate. For example, LTO-6 native capacity is 2.5TB and write speed is 160MB/sec. It will take (2,500,000MB/160MB/sec) = 15,625sec = 4.3h to complete.