But on a homelab you can host any service you want and start/stop it whenever you need to. Sure cloud storage might cost less in the short-term, but if you need more storage or more services, a selfhosted option is far cheaper.
VPS are very expensive for what you get. If you have the capital, doing it yourself saves you money very quickly. It's not rare to pay $50 for a semi-decent VPS, but for $2000 you would get an absolute beast that would last 10 years at the very least.
With Docker, maintenance is basically zero and unused services are stopped or restarted with 1 command.
How many services do you need ? And how much CPU power do those services need ?
I've also self hosted for decades, but it turns out i don't really need that much, at least not public.
I basically just need mail, calendar, file storage and DNS adblocking. I can get mail/calendar/file storage with pretty much any cloud provider (and no, there is no privacy when it comes to mail, there is always another participant in the conversation), and for €18/year i can get something like NextDNS, Control D, or similar.
For reference, a Raspberry Pi 4 or 5 will use around 50 kWh per year, which (again in europe) will translate to €15/year. For just €3 more per year i get redundancy and support.
I still run a bunch of stuff at home, but nothing is opened to the public internet. Everything runs behind a Wireguard VPN, and i have zero redundant storage. My home storage is used for backing up cloud storage, as well as storing media and client backups. And yes, i also have another cloud where i backup to.
My total cloud bill is around €20-€25/month, with 8TB of storage, ad blocking DNS, mail/calendar/office apps and even a small VPS.
I did not do the price calculations (in France, and I prefer not to know :) but I host many things except for mail and calendar (mail is tricky to host). Of these 29 services, I use maybe 4 daily and 15 monthly. They are well protected, easy to maintain, and serve family and friends.
Not to mention that I love them.