There are a couple of different "types" of customers. Some, like you said, are just concerned about their code. Some are interested in control (meaning they control their backup policies, uptime, redundancy, etc.). Some want better integration (we support LDAP and CAS authentication, let you plug directly into various git hooks, that sort of thing).

Hosted plans work great for a bunch of companies, and self-hosted installs work great for a bunch of companies. Might as well help out both. :)