I say mostly works, because there are a lot of "gotchas" and the configuration and set up are a bit intimidating for the clients (the server is simple to host).
I used it for a while and it was fine, but I decided the cost of a coffee per month is worth not having to maintain it, and I switched to paying for their sync service.
However, there is also a git sync plugin that works really nicely. But it is not a real-time sync and it is not supported on mobile (officially). I mainly use that as a way to keep long running backups of my vaults in a self-hosted gitea instance (the default paid tier only keeps one month of history).
It does not work well for sharing to a mobile env but works great for desktop.
I no longer use Obsidian, so not sure what’s the best option for e.g. Linux <-> iOS sync except their service.