IMHO, there is no such thing as "the cloud." All your doing is using other people's computers. The history of the Internet is littered with the corpses of once "free" and low-cost services.

IMHO, self-hosting means running my own services, storing and processing my own data, on my own LAN and servers. It's about minimizing my reliance on third-party service providers to avoid the vagaries and price shell games they play, while restricting access to my PII and staying in control of my data. I don't do it because it's easier or cheaper, because it's usually not. I do it because I believe I'm better off for it.