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If you want to use a similar approach for backups, Borgbackup is a pretty nice piece of software. I have two backups of my most important files: One on my NAS at home, and one "in the cloud" on a storage VPS (ends up way cheaper than using S3, B2 or anything like that).
Which storage VPS have you selected? I'm looking at Hetzner atm.
I've got one with HostHatch that's 10TB of space for $10/month. It was an offer they had during Black Friday 2020. They had a similar offer during Black Friday 2023 but I think it was around $20/month, paid yearly.
I live in the San Francisco Bay Area and my storage server is in Los Angeles, which is around 10ms round-trip ping time from my home internet connection.
Hetzner is good too. They have relatively cheap "storage boxes" that are a shared environment rather than a VPS. You don't get proper SSH access, but they do support FTPS, SFTP, Samba, Borgbackup, Restic, rclone, rsync and WebDAV. https://www.hetzner.com/storage/storage-box
Borgbackup encrypts the backups, so the host won't be able to actually view your backups.