How dumb would it be to run single-node ceph?

I really want to run ceph because it fits a number of criteria I have: gradually adding storage, mismatched disks, fault tolerance, erasure encoding, encryption, support out-of-the-box from other software (like Incus).

But then I look at the hardware suggestions, and they seem like an up-front investment and ongoing cost to keep at least three machines evenly matched on RAM and physical storage. I also want more of a single-box NAS.

Would it be idiotic to put a ceph setup all on one machine? I could run three mons on it with separate physical device backing each so I don't lose everything from a disk failure with those. I'm not too concerned about speed or network partitioning, this would be lukewarm storage for me.