People get protective of the term self hosted, but all I know is that if I search "how to self host" for any open source project, 90% of the guides at least, probably including the project's own docs, will be about installing on a VPS.

Anyway, the important thing is being in control of your own data. With proper off-site backups and reproducible setups using containers, migrating between VPS providers should usually take just a few hours.

I fully understand the arguments for (and against) managing your own server. But I've not been convinced by any arguments for that server being in your house/office rather than a climate controlled warehouse somewhere.

Well, unless you enjoy setting up and managing the physical hardware yourself of course. That's fully reason enough.