Would you be willing to pay for a dedicated ARM-based instances, potentially less than 5 dollars per month for a dedicated Raspberry Pi 4 with 2GB RAM?
Yes and no. Not at this price: for 5$/mo you can have a real dedicated server (not a VPS) by kimsufi provider for example.
Also 1 year of rental at 3-4$/mo = you have spent the same price as buying and owning one.
If I had an application that required ARM, else no.<p>Even then it's extremely unlikely I don't consider the Pi 4 reliable enough to justify paying to have one professionally hosted.