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You will still need a static IP for SMTP. Dynamic IP assignment and NAT traversal are the largest hurdles to self-hosting reliably. DNS updates are great, but then you're still relying on a large centralized DNS provider. You can host nameservers yourself, but then you're back to the Static IP issue.

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Self hosting SMTP servers is downright impossible these days. The big Google, Yahoo, Microsoft, and others "fight spam" / competition by black listing little known SMTP servers.

If you try to do it from a VPS, they have usually blocked entire segments of the companies IPs. (Because someone, a lot of someones came before you)

There are good reasons to right spam. But the efforts of the biggie names are forcing people to use their services. (Its free after all right)

You have to rely on a registrar for your domain name anyway. For everything else, a cheap VPS with a static IP is easy to manage and can delegate to your homeserver behind the scenes. The VPS also can be easily replaced by a different one when needed just by managing the DNS entries.

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