Like others have said, it's all about your goals. If you just want to selfhost some apps or have additional storage/local backups, by all means, keep it simple and efficient.
In my case, my homelab is justified because of my job. I'm a senior systems engineer who specializes in designing, deploying, and managing distributed infrastructure. So having a dedicated server room at home with a rack, 20A circuits, and HVAC allows me to more easily emulate certain environments, test out hardware on loan from vendors, experiment with new ideas or software solutions, and stay immersed in my craft.
Aside from the work-related benefits, in return for my higher than average power bill my home network gets to rival most corporations, and I can self host anything I (or my wife) wants.
While this setup is great for me, I would never recommend it for someone who would be better off with a NAS.
One company I was at allowed me to primarily WFH as an accommodation, with the condition that I would appear in-office as needed. Worked out pretty well.
I also struggle with "out of sight, out of mind", so having an extra monitor at my office workstation could be considered a reasonable accommodation.
Another example would be providing noise canceling headphones or a more private/secluded workspace to help you retain focus.
Keep in mind that the outcome of requesting accommodations like the above examples will largely depend on the company you work for, and the type of work you do. Some places will play ball, others might tell you to pound sand. Always worth a shot, though - imho.