I like to test my scripts against a variety of versions/editions and I don’t like spinning VMs up and down all the time. As for the cost; some people spend their money on golf, Polish pottery and gaming rigs. I spend mine on servers, Belgian beer and travel 😉
As you can see, I also have an old Macbook Pro with 256 SSD, 4TB HDD and 8GB RAM in the mix. It’s for photos and videos, however. And someone gave me an old silver Shuttle from like 2002, but I haven’t had the time to set it up yet.
The “cloud versus local” lab is a tough call, as both sides have their advantages and disadvantages.