On the other hand, it's 'set up once and it just keeps chugging along', and isn't Yet Another SaaS To Manage.
Also, if you want a 'proper' ops alerting SaaS, you're looking at something along the lines of $50/user/mo or $15/server/mo, neither of which is trivial.
Yeah assuming nothing falls apart with the custom implementation maintenance-wise. Programmers have a hard time focusing on their real goals though, we often re-implement things that really aren't worth the time or money.