The only reasons I can think of:
1. tor is slow
2. VPS costs money
3. You have to place your TLS private key on the VPS (so you are giving your private key to VPS provider)
I did create an alpha version of a cloud service designed to do almost exactly this and make it as easy as possible to set up: https://greenhouse.server.garden/
Right now that project is on a bit of a hiatus / rethinking phase but AFAIK it still works and can almost be used in "production" .
I say "almost" because I think there are still some bugs around re-connection; in order to be truely production ready, the greenhouse-daemon service that you run on your server should be wrapped inside a health-check / auto-restarter.
The benefit of greenhouse: You don't have to pay for a VPS & you get even better data custody / security than a typical "lazy/naive reverse proxy over tunnel" setup.
The TLS will be terminated on your home server instead of on the VPS, so you get exclusive ownership of your TLS private key. Plus greenhouse "automagically" handles the `PROXY` protocol stuff for you so your HTTP server/app will see the proper remote IP of the connected client via the `X-Forwarded-For` HTTP header.
Because of the lingering bugs in greenhouse, I don't use it myself.
cyberia.club uses something similar to what you mentioned for our own services: https://wiki.cyberia.club/hypha/infrastructure_and_operations/reverse-tunnel
Its the same thing as what you described, except instead of TOR it uses SSH. We don't have to be concerned about about having the TLS keys on the VPS because its our own VPS hosted on our own hardware (https://capsul.org)
