Hell, The tools have always been there for business, where in-house expertise is the norm (or contracted, especially for SMB).

The people who pushed for cloud were bean counters, senior IT management, etc, because those costs are an expenditure for services (reduces your tax liability also while offloading risk to the vendor). While keeping it in-house means buying equipment and owning it, which increases tax liability and keeps risk in-house. (They also thought they could reduce staff, haha, nope!)

There's a place for doing this, for sure. Things like email hosting, especially for small business where they just aren't going to have the staff to manage the spam, etc. But that's paying an email vendor to manage the service. Bit of a different animal.

Or for enterprise, having the flexibility to quickly spin up new resources for expansion. Or redundancy. Or for a new small business, you can spin up resources as needed until you've determined what you actually need, then migrate to local (or not, if the venture isn't successful).

For home, yea, there's lots of stuff available these days, more than you can shake a stick at. Some of the simpler things like CasaOS and FreedomBox are simple enough for moderately technical people.

But generally it's not a good choice to go cloud.