This point is oversold.

Sure - self hosting takes a bit more work. It usually pays for itself in saved costs (ex - if you weren't doing this work, you're paying money which you needed to do work for to have it done for you.)

Cloud costs haven't actually gotten much cheaper (but the base hardware HAS - even now during these inflated costs), and now every bit of software tries to bill you monthly.

Further, if you're not putting services open on the web - you actually don't need to update all that often. Especially not the services themselves.

Honestly - part of the benefit of self-hosting is that I can choose whether I really want to make that update to latest, and whether the features matter to me. Often... they don't.

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Consider: Most people are running outdated IP provided routers with known vulnerabilities that haven't been updated in literally years. They do ok.