If HOAs are a good example of self-governance, I can only conclude that self-governance is bad.

The term "self-governance" has always seemed to me to be an oxymoron. On its face it means everyone governs themselves, and nobody governs other people. Which if the people are reasonable mature adults, works out fine. But the term is always used to refer to some kind of governing institution, which means some people are given the power to govern other people. That's not "self-governance".

Democracy in the US has been withering together with the rise of the HOAs. An ironic correlation.