Being able to self host means you control your infra, so that's a very good property of the tools you use and should probably be a criterion for choosing what you use, even if you don't use the capability yourself. The ability to self-host increases the chances there's something to migrate your data in and out.

The ability to self host also doesn't prevent someone, including the original developers, to also proving hosted services.

And since the presented tool is open source, it's also possible for another company to provide hosting.