The terminology is perhaps a little messy, but I think "self hosted" and "in the cloud" are not necessarily mutually exclusive. On one hand, "in the cloud" can mean a SaaS platform where your data is locked in and you have no control over the application. However, I could also own the code and data and host an application myself "in the cloud."

This is the ideal compromise to me. I can own my data and the application, but I don't necessarily have to deal with all the annoying details of managing my own servers.