2. Building something for yourself is qualitatively different than building something for somebody else. (I've heard this described as "situated software"[1].) Both the results and the process are different.
3. Building something yourself lets you become an expert in the domain and the tool you're building, often faster and deeper than using somebody else's system. It's a way to build up tacit knowledge and institutional capital as much as (or even more than) software.
4. More often than people realize, building something yourself ends up simply faster than first learning and then wrestling an existing tool into the exact shape you need. I've seen a lot of teams waste way more time trying to get some existing thing working than they would have spent building their own thing.
Obviously it isn't always true that building your own version of something makes sense, and nobody is going to be building everything from scratch... but it makes sense far more often than conventional wisdom dictates.
[1]: Term originally coined by Clay Shirky, but I can't find the original essay online, but looks like Gwern hosts a copy: https://gwern.net/doc/technology/2004-03-30-shirky-situateds...