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.