You can connect to a 2-bay NAS with 20 TB of storage at home with a VPN. Fast, private, secure, practically unlimited storage, under your control. That much storage will be very expensive in the cloud. Proton is like 120$/year for 500GB.
You can also run unlimited applications for free on the same nas: photo management, streaming with apps like plex etc. Each of those apps is an additional cost in the cloud.
If you love spending hours a day twiddling with linux configs, knock yourself out, but my time is worth more and the every arrow of opportunity cost points toward an integrated cloud ecosystem.
I prefer to save data in the cloud, and not "on the computer... in my house..." as the hank hill meme goes, because that hardware is painfully fragile.
Setting up a second off-site NAS and connecting it to the primary one over VPN was also easy.
I haven't twiddled with Linux configs since I set up the system in 2018.
I'm not saying it's a good idea, but this myth about cloud reliability is a myth lately - all the corps have started squeezing for profit at the cost of reliability and availability.
You configure an offsite backup in the NAS.
Obviously you don’t have eleven 9 availability. But good enough for home use.
It's also great if you move frequently, or travel a lot.
You would encrypt (all or part of) your NAS client side with your software of choice (I use restic) and ship it anywhere off site: could be cheapest cloud, or another location you have access to.