SQL Azure recently introduced a second set of choices which you can think of as a parallel (but more powerful) business model. Basic/Standard/Premium still work, but you now have additional choices. The new model supports separation of compute/memory from storage/iops more formally. It exposes General Purpose and Business Critical + exposing each generation of CPU (gen 4 vs. gen 5). As a rough starting point, you should think of standard as being close to general purpose and business critical is close to premium.
SQL DW is a somewhat different offer that is based on the PDW/APS scale-out appliance model (run as a service). So, while 3TB will fit on a single node in current generation 5 HW, if you want to run a DW SQL DW is a great choice if you think you will grow further, need scale-out processing, etc. You should not think about going between SQL DW and without app changes - in fact, you can't change between those two sets once you pick one.
You can read more about the new business model here:
https://docs.microsoft.com/en-us/azure/sql-database/sql-database-service-tiers-vcore
This week a new option (Hyperscale) was announced as well which gives scale-out storage within SQL DB