In both the Twitter thread and the HN comments people seem to think VPS in no longer "cloud". IMO you are not "off the cloud" unless you own the hardware. A VPS is not that much different than an EC2 instance.
So in reality you just converted from cattle to pets[1] while just being on a different type of cloud.
And once you get into actual colocation you have to buy the hardware, have redundancy, and the colocation facility is probably charging you quite a bit (and perhaps even extra for bandwidth and power consumption).
[1] "cattle" refers to a disposable and easily replaceable resource, like virtual machines or containers, while "pets" are unique, carefully tended servers that are individually managed and not easily replaceable.