Yes, I did it too, making cutoffs out of older jeans. It was a common practice with my peer group.
But by around the time that I turned 30 years old or so, wearing cutoffs with those fraying threads hanging down
seemed to be a bit too casual or untidy or something.
Eventually I realized that was no longer choosing to wear them anymore. There might be a few pairs stored away in a closet or cupboard somewhere.
I still wear shorts in the summer months but they're properly hemmed and look more presentable than the cutoffs of my youth.