Quite true! But you can easily delude yourself by only considering the cost of the components, conveniently ignoring the cost of your equipment and time!

Once you're set up for reloading, then adding a new caliber is basically free (not quite, but very cheap usually).

You've got to think of reloading as a hobby of its own, with its own cost of admission. But it's a hobby that just so happens to support your other hobby, shooting.