I'm the former, but most of that I'm not doing by hand. jellyfin transcodes when it wants, I'm not dealing with that. resources are monitored, a simple setup, so that if something happens I can look back why it happened. I also want alerts if something is predictably going to break down soon. with the latter school of thought, you wouldn't know if a disk was throwing smart errors for half a year before completely breaking down. but I don't have failover, I don't have the hardware and don't want the power bill for that. but I have reverse proxy because then every web thing is configured the same predictable way, plus I trust it more to handle the standards well. so most things I do, I do it because I think it to be valuable to me, not just for the sake of doing it.
homelabbing is the means to an end to me.