I've seen people criticize ETFs and companies that have third-parties hold their bitcoin, which would make sense with the risks from FTX shitting the bed and "not your keys not your coin". Are those the key reasons that most people would prefer self-custody?

Countering that, from a liability perspective, if you pass custody to a third-party like Coinbase can there be relative benefits to that?

If I have a small company that holds say 10 BTC compared to Coinbase's vast supply of bitcoin, would I be taking on more risk by handling custody myself? At that size, I would think my risk of someone in my company losing the keys or stealing it (would imagine several people at least need access if it's part of our treasury) might be higher than delegating that to, say, Coinbase, who has such deep pockets compared to my company's assets that they could probably pay me out themselves or through insurance if anything went wrong. It's hard for me to gauge their default risk / the risk to my assets with the recency bias of various exchanges going under as well as how legitimate their holdings are (I thought the SEC mandated verification of BTC holdings or something) as well as the odds of my company screwing up and losing our coins.