I guess if you're at the point where your engineering time to implement this + all of the features on top of it that you might need from SQS and future maintenance of this custom solution is cheaper than the cost of using SQS, and you have no other outstanding work that your engineering team should be doing instead, this is a viable cost optimization strategy.
But that's a whole lot of ifs, and with customers I've mostly worked with, they're far better served just using SQS.