I decided to host my own because I was on lemmy.world and we got blocked by beehaw, which had many of the communities I wanted to be a part of. I run mine on a server that's in my house, so the only thing I'm paying for is electricity. And I have solar panels.
It was really annoying to set up if I'm being honest. If I hadn't taken classes on Docker, I would have never figured it out. Luckily they have been improving the process recently. It already much easier now than it was a week ago. Hopefully by the next major release it is easy peasy.