> I had hardware raid 5 before and it failed, because I used similar hard drives ( 3 drives failed within a month, wasn't expecting that).
Which goes back to my point. You're comparing your home system, with something like one-9's uptime (90% availability over an entire year) with a cloud provider that is going to give you five-9's or better.
These are not the same things. And you are going to pay more for each additional 9 of uptime.
For your own stuff, yes, of course it can make perfect sense to host it yourself. I've got a personal server running on positively ancient hardware that still manages two-9's availability, and that's fine for my use case. But I wouldn't directly compare that to a cloud provider either.
You are using commercial-grade hardware, with no ECC RAM and other server-grade features.
You are also missing RAID, the UPS power supply and generator backup, as well as redundant Internet connections to different Tier-1 providers.