I have also found that self-hosting, even with your own hardware, is significantly cheaper than the premium cloud hosting (AWS, etc). We priced out a VM server at my company and we found we could rebuy the hardware for it every FIVE months, just from the cloud hosting costs. And that is if we were decently disciplined about turning VMs on and off every day (which we all knew was a fantasy).
That caused us to strike out the premium providers. Leaving us with the non-premium ones (Digital Ocean, etc), co-locating, or in-house hosting.