Glad that Oxide will hopefully allow people and companies to utilize their infrastructure on components that may not be so old/may be easier to use.
i wish them luck, it's a very interesting approach they are taking here.
A colo box can be great if you can amortize the cost among a dozen friends. Otherwise, I think your money goes much farther on AWS and GCP, especially if you know some basic cost saving techniques like reserved instances or not using instances at all (Lambda, Fargate, S3 and other on-demand services/their Google equivalents can cover a lot of needs nowadays).
If you can get away with hosting on your own computer on a residential connection, that's great for you, but it's a totally different product from what AWS/GCP/colocation offer.
By the way, reserved instance pricing on AWS and GCP starts around $20/year. But if you know how to use S3/GS and Dynamo/Datastore, you don't even have to use an instance.
At the moment I just use EC2 and GCP instances (and a couple of GCS buckets)
On Google, the comparable offering is an f1-micro instance, which goes for $3.88/month (https://cloud.google.com/compute/vm-instance-pricing#pricing).