You mentioned the material cost and time to build one, so you are being argumentative, with yourself.
Not to be argumentative, but I personally like the looks of varnished pine for all my stands and work benches. Furniture grade cabinets in a workshop just look wrong. I would not want an oak or cherry lathe stand, or BS stand. Expensive hardwood looks out of place in a shop, to me. The first thing I built in my shop was a work bench. Made it out of #4 pine sheathing they sold cheap for roofs. Still looks great 50 years later and all the drawers work as good as the day I built it. I learned a ton building it as well, and everything a built subsequently benefited from doing it.
To each their own I reckon.
Anyway hobbyist like pervade this group are not earning a living with their shop, they are in it for the enjoyment. From what I read here, most would benefit a good deal by building their own stuff rather than buying cheap ass metal junk, and they could enjoy their work forever.
Regardless, cheap metal stands like they sell at HF suck, imnsho.