Following that logic the bill of rights doesn't apply to anyone. only the state constitutions apply. this seems to be in the "Home rule " school of thought, correct?
No. Following that logic the Bill of Rights only applies to the federal government. Correct?
The BOR (actually the first eight amendments of the BOR) originally applied only to the federal government. After the 14th amendment was ratified in 1868, most, but not all, of the first eight amendments were made applicable to the states through a process known as "selective incorporation". For example, free speech/press was "incorporated" in 1925. The fourth amendment (unreasonable searches and seizures) was "incorporated" in 1914. Prior to those dates, legislators and state courts were bound only by their individual state constitution.
To date, the second amendment, the "Grand Jury" clause of the fifth amendment, and the seventh amendment have not been incorporated. State constitutions prevail in those areas.