Object Storage Server Example

[Murigar]

We are looking at migrating our 100% on premise environment to M365.

I am working on digesting VBO for the first time. If I can I would prefer on premise object storage.
It looks to me like I can spin up MinIO on some local servers, setup a proxy or two.

Let's say 1000 users, and how about 300 TB of data.
Probably setup two storage servers. Primary and backup copy.
What would some server builds look like for this?

This could be easily achieved with OK performance in TrueNAS Scale, with the MinIO container.
Or, an Ubuntu server with a bunch of spinning disks and XFS or a RAID card. Performance much worse.

Specific questions:
Is this crazy talk?
Do I need the IOPS of flash?
Do any of you have examples of your hardware build/disk layout?

Thank you.