Tbh, it's all trade offs. With Twitter/FB etc, you'll get "free" storage, uploads, shares etc. To get that you pay by surrendering control and being profiled. The risk is, one wrong move and years of work and effort are gone, forever.
On the flip side, you use your VPS to install haven, pay for your domain etc, it costs, time and effort. But on the upside, you're in full control of your content, you're not being profiled (yet) and you're not going to be censored for wrongthink.
Having set up my own relay, I get why people don't, however.
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Self-hosting is like hunting, you control the outcome and own the result.