It does seem a bit pricey though. For $69/month (Scale), I could rent a dedicated server with 8 dedicated CPUs, twice the RAM and 20x the storage (and that's physically attached NVMe in raid 1), and have money to spare: https://www.hetzner.com/dedicated-rootserver/matrix-ax/
(Obviously if it's just like a hobby deal then run it on a cheap VPS).
As an avid self-hoster, by all means, self host Postgres! But self hosted Postgres is not the same product as managed Postgres.
By all means, self-host Neon and come talk about it in our Discord (https://neon.tech/discord)!
Cheeky jokes aside, you can definitely go down the hetzner/VPS route. Not everyone has the expertise or desire to spend time doing so, but if you do, then go for it I say. We have some nifty features that are non-trivial to recreate, but again, it depends on your needs.
this also doesn't cover 100% uptime, but only 300h, and you will pay extra for each extra hour.