A Jellyfin or Plex server can be had for real cheap using used hardware. A Ryzen 3 build can be found for next to nothing here in Brazil[1], so I imagine it’d be even cheaper in the US.
Add an old Quadro card for hardware decoding, or go with an Intel CPU for Quick Sync, throw some IronWolf drives inside, install your favorite Linux distro, and you’re off to the races.
Yes, managing a server is more work than just signing up for Netflix or whatnot, but it’s definitely worth the effort.
[1]: A quick search shows me a Ryzen 3 3200G build with 16 GB of RAM for $200, and electronics are super expensive in Brazil.
N5105 boards are also super cheap, and low power draw, but still with the transcoding hardware. Great experience with mine.