I have a couple sites I have hosted and email servers come with them. So if you want to call that "your own", it's pretty easy. Not free, by any means but you have full control and can make email addresses all day long. Want to enter into a contest but you're pretty sure it's a spam list? Make an address just for that, delete it when you're done. And so on.
As for your own physical email server, you need a box, a domain of your choic... you know, here's a tutorial on how to do it with a raspberry pi (dirt cheap and almost no power usage): https://samhobbs.co.uk/raspberry-pi-email-server
So a raspberry pi is a one time $35 (or cheaper) and the domain name is like $12 a year. If you want SSL, you gotta pay for that.
But to answer your question directly: extremely practical. There's no reason why you can't if you have any inkling of doing so.
Thanks for the info. I read an article a while back about a guy setting it up all from scratch (so not automatically included with your site), and he was saying his mail would get flagged as spam when sent to gmail, yahoo addresses, etc. So maybe the situation is better when the email is provided by your webhost.
I've completely moved all of my email accounts away from google and to my own server because I got tired of their nags telling me that none of my devices were using their email app. You can't opt out, you can't unsub, you can't get google to stop.
I'm also going to lose my yahoo email account soon which I only have because they bought geocities way back in the day. I don't use it for hardly anything but I refuse to accept their new terms because they want to have permission to read everything for analytics.