"Comparing it to open source isn't really possible."
I don't really understand this line of reasoning. You are running code on your servers, are you not? Your code is either closed or open. (closed) How is comparing it to open source not possible?
Just not possible in the sense that a hosted solution has the expectation that everything is managed for you. An open-source solution requires you to do the work of setting it up, configuring, handling traffic spikes, backups, etc...
I see your intention now, but you are using the words in the wrong context with the wrong definition. There are plenty of hosted open source products that require little to no setup.
I don't really understand this line of reasoning. You are running code on your servers, are you not? Your code is either closed or open. (closed) How is comparing it to open source not possible?