If it was a “massive threat” they would’ve lobbied long and hard long ago, joining with the MPAA and RIAA

They are in fact lobbying for legislation that declares self-hosting a security risk and akin to piracy. The fact that they use Minecraft servers as an example actually shows that this is not even remotely a new thing, but that they are working on those idiotic arguments for quite some time.

In the 90s and 2000s self-hosting was just not as simple yet. But nowadays cheap SoCs can basically handle the vast majority of the stuff they want to "sell" you as a service (and get your private data at the same time). The new frontier is AI (and only because they have driven up pices so much - else even self-hosted AI would be more prevalent). Everything else most people use, from messages to calendars to collaboration tools to media hubs to "cloud" storage, you can do yourself on devices with some low double digit price tag (the storage itself is now the more expensive part - again thanks to the AI bubble). Or next to free given all the older consumer hardware Windows11 just made obsolete...