Since reloading equipment doesn't wear out, the annual capital cost will get real cheap. A lot of my gear was "good-used" when I got it, and some of the stuff has been around since 1950. Over a 20- to 40-year period, then, you wind up with an ammo cost, pragmatically, of just the powder, primer, and bullet.
What happens is, you start scrounging brass at whatever range you hang out at, you buy components in some amount of bulk, and compared to store-bought stuff you save a lot. Again, over the long haul.
Mostly, there's the satisfaction of doing good things for yourself...And you can tailor your loads for specific purposes far better than the relatively limited factory loadings.
What the hell. Keeps you outta the beer joints...