You always have a counterparty. With self-custody you become the counterparty 😁 For most boomers that is worse than Charles Schwab. Just check the Sparrow Telegram Support group and assess the risk of losing coins in self-custody. Self-custody is always better for ideological reasons (starve the beast) but isn't always a lower risk of losing your coins, e.g. doesn't even know what seed words are.

I guess it depends on the environment to whether or not people should selfcustody and in the current environment I would self custody some or all of my bitcoin