Yeah, agree. And I am not talking about enterprise level of reliability. More like personnal / small office.

But for anything above a few TB, running your own hardware will be way cheaper if you take say a 5y horizon. Disks are so large today that you don't need a big config. In fact you might even keep two copies to reduce the risk.

Of course there is the occasional trip to the datacentre. I made that mistake. I pay more in uber than I saved by picking a datacentre far away.