Good luck hiring the professionals needed to run a bunch of co-located servers in 2020.
The hardware part is not difficult, if you've built a PC you can set up a rack server (it's arguably easier because they're built to assemble without needing tools), and the software is all Linux on both, no? Or do you mean hiring on-site engineers within driving distance of your rack servers is difficult?
It's also really pretty amazing to be able to spin up instances or services to test with for however many hours you need and then simply release them again.
Once you've got used to that level of freedom and convenience it's hard to go back, everything just moves faster.