Yes, but vaultwarden isn't something you can casually run by yourself without some careful thinking. You are hosting secrets whose longevity is important, so if deploying yourself, take good care of backups and do regular drills, so you validate that the backups work, that they aren't corrupted and that you keep a copy off-site.
Me and some friends have each been hosting vaultwarden casually for years now. What problem do you see? I mean if the Server goes down and gets completely corrupted, worst case, all my devices still have the version of the vault they recently used. Technically every device has it's own backup of the vault.
You should be doing regular exports/backups of your vault regardless of how it's hosted. Bitwarden could go belly up tomorrow and lose all their stored vault data.
Is there anything stopping a commercial Vaultwarden host?
IMO a paper print-out of all passwords and backup codes is the most reliable backup. No bit-rot, no third party, and "degradation" is obvious - fire, flood, etc.
Theft is also usually obvious.
If self-hosting, keep at a separate location than your hard drives.
Actually, I didn't have any careful planning when I started out self-hosting Vaultwarden. I didn't even have system backup (was just a script kiddie back then, didn't even know about 1-2-3). I have to migrate my instance 3-4 times. But because I'm just hosting Vaultwarden for myself, I can export the whole account from one of the Bitwarden clients (either the extension or mobile app) and reimport it in the new instance. Because I always have at least three devices with active use connected to my Vaultwarden instance, for me this also counts as 3 off-site backup that can be used to re-instate the whole setup.
It is surprisingly very durable and maintenance-free even for a script kiddie like me to maintain. My advice is (at least when it comes to Vaultwarden) don't think too much about this, just selfhost it, at least for yourself. You'll probably be able to manage it when something happen.