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I consider selfhosting to be both. VPS or homelab. The latter has more 'cred' but is also a much bigger investment and not everyone can do it. Granted I'm living in a difficult environment but as somebody using Linux since 1994 it took me 3 years to recently get a homelab to where I could credibly serve the wider internet from it, and I still use a VPS as reverse proxy anyway! Meanwhile, offloading your physical plant to a mom-n-pop platform-as-a-service provider isn't the worst thing in the world. Some operators started out selfhosting and grew their little VPS provider from that, those guys need business too!