I host my own instance for the same reason I self-host the dozens of other services. To have control over my digital services the best I can. I have a few server machines running various services. I run like 40 docker containers running at the moment. Lemmy is a set of those containers.
It cost me the electricity cost to run the server, plus the cost of my internet. I suppose you should include the initial hardware cost- my servers are basically my old gaming rigs. Not to mention the time investment to maintain another service. For me, it’s worth it to self-host if I can.
Specifically for lemmy, I seen how overloaded the various major lemmy instances out there were, so self hosting could mean one less user on those instances. I also didn’t see any significant drawbacks to self-hosting the instance since I can still join and communicate with all the other communities.
Hi from my lemmy instance lemmy.server.fifthdread.com lol