Most people asking do not, and some genuinely do.
YOU PROBABLY DO IF
You need root access or custom server software You need system packages or PHP extensions not available on shared hosting You need to run persistent background processes, queue workers or websockets You have consistently hit shared hosting limits after caching is correctly configured A compliance requirement calls for an isolated environment You need control over the server stack itself
YOU PROBABLY DO NOT IF
Your site is slow and has never had caching enabled Your images are unoptimised You run forty plugins You read that a VPS is faster You want to feel more professional
THE TEST
Can you name the specific thing shared hosting prevents you doing? If not, a VPS will cost more, take more of your time, and perform no better.
BEFORE DECIDING
Open a ticket describing what you run and what problem you are trying to solve. We will look at your actual resource usage and tell you honestly. Frequently the answer is caching.