If I am not mistaken, the global timeline is filled with posts from accounts that people on your instance follow.
This would also apply to the posts you see when you follow a hashtag, which are only the posts that appear in the global timeline.
With that said, my biggest concern with having a "personal instance" would be that you would be left with an uninspiring timeline, since all timelines are basically the same, or am I missing something?
@secupriv @homegrown @misc
Yeah, you are missing that you can also search and follow hashtags, which is a great why to follow things. And if you self host or have a small instance, you can subscribe to a relay to help populate your feeds.