I've spent quite some money and time to set up my own cloud, but the initial investment paid itself back after 2 years already when compared to the monthly cost of Google One. Companies like Google need to understand that, if they try to pull too much the rope of profit, even if that means hurting services that people have started to take for granted and built their lives around, then people will just start leaving.
Couple this with migrating to something self hosted like nextcloud, and I cant see why anyone would possibly pay google $2 per month to be part of their data aggregating empire.
I don't think Nextcloud's photos app would run well on something like a Raspberry Pi either, considering when I tried my photo collection in it, it would consume enough RAM to crash the 8GB VM it was in and give up.
While I have time and knowledge to troubleshoot, realize most don't and $2 is less than an XL coffee.
For me, the cost of running a home server is far less than the cost of Google having my entire digital footprint.
IPFS?