When I started woodworking around 2006, I bought a bunch of power tools. Started out going cheap because I could not see the difference between no-name brands such as what you get at Harbor Freight and well known brands. I soon learned what arbor runout is, why cast iron trunions are superior to stamped aluminum, and why I should buy a single router bit for $20 instead of the whole 30 piece kit for $35.
I replaced all the crap with quality. Delta cabinet saw, Grizzly 8" jointer, Porter Cable 2 1/4hp router, gotta have the 2hp dust collector too!
Then my skills progressed beyond everything being 90*. Table legs started getting tapers and curves, aprons started getting curves, chair arms no where near flat and square. Once you come off 90* in any plane on most power tools, you are going to need a jig. In order to make that jig, you are probably going to be doing hand work. Since I am not running a production shop, I do 2-3 big projects a year, these jigs often are one project use. I also found out that I absolutely hate the sound of a power router, to the point that I will even mute the TV if I'm watching someone else use one.
Then I built a Morris Chair. The seat is lower in the back than the front, which means the tenon shoulders are off 90* from the edges. The bottom apron is too wide to fit in my mortiser, so I had to chop them all by hand. Since the arms are bowed, the top apron has to be from fit to the underside of the arms. Other than milling, this chair was all hand tools. I learned that I really enjoy working the wood more than working the machine.
I sold the table saw, jointer, router, and mortiser after that. I still have a Dewalt 13" planer and a sweet 14" Rikon bandsaw. Other than that, I have no desire to go back to power. Now if I were to try to make a living at it, yes, the power tools would find their way back. They are just more efficient for repeatable cuts, but my shop produces a bunch of one-offs.
As for hand tool cost, there is a whole lot between the orange handled junk chisels at HF and Lie Nielsen. I do have some Lie Nielsen tools, but some of my favorites are over 100 years old and working awesome.