Both my wife and I are reluctant to upload our entire photo collection spanning 20+ years to the cloud. Immich has been working really well for us, the experience for her is just as seamless as it would be for Google Photos, I think.
And at $180/yr for the 2TB of storage we'd need to pay for, vs. maybe $200 in hardware, it pays itself off pretty quickly... if you exclude the time spent setting it up and administering it. But I don't mind, it's a bit like digital gardening for me.
$200 hardware only? my main concern with storing photos locally is the need for a NAS. Even at 2-3TB you still need: a NAS device, 2-3 hard drives and the mini pc to run immich + power bill to run them. it will cost more than $180/yr. cost should not be the main factor people store photos locally.