I have seen the following argument (summarized here as I understand it):
To talk about a concrete typical usecase, I am thinking about how this applies to downloading illegal torrents. In my current view, the only scenario in which the self-hosted option makes sense is if you pay for hosting using crypto and reveal no personal information during the process. Otherwise using a VPS would be virtually the same as downloading it through your ISP - and in some cases even worse - because the VPS provider might be more easily pushed to throwing you under the bus if abuse is reported since this might be a TOS violation. On the other hand, a VPN provider has a much larger motivation to protect users against this because the way that users perceive these protections is fundamental to their business model.
So, is there a reason to self-host a VPN instead of using a VPN provider? If so, should the VPS be acquired anonymously, or are there ways to protect yourself while using a provider that you gave your personal information to?