It's also dangerous to say because you don't understand or see the value in something, that there possibly can't be any.
Today's home connectivity + LTE fail over is reasonable to rely on. One could put a vps proxy in front of it if you really wanted.
Running a home appliance is not out of the question or unreasonable. I have a Mac mini server that is coming on 8 years of age and zero issues.
Today, the combination of Ubuntu, docker, and ready to go setups make it super easy. Offsite backups are not an issue anymore. Running owncloud is good for files locally, but email is worth it in some cases.
We own a lot of appliances at home that have a lifecycle to maintain already.
The reality is the above issues have a much lower chance of happening than 10-15 years ago.
Hardware is far more reliable and than it was, my 15 year old servers pulled from my data center were still working when I virtualized.
A discovery I made was owning a PDU (like an APC Masterswitch) cleans the electricity so much enough that attached equipment don't seem to fail. I ran my own email server in a datacentre for clients for a long time because it was the norm.
With Home Automation adoption increasing I suspect a home appliance of some kind will become a reality anyways. If personal data became a feature of it, that would be useful.