Got that right!
Yes, the "start up" costs can be a bit, but many of the supplies will last a long time, so prorated out, juice, for example, can be brewed for 10 cents a ml or less. A spool of wire for the RTA or RDA can last literally years.
About the only thing I buy these days is PG and VG, about once a year or so for me. Enough high test nic on ice to last the rest of my life. The occasional new flavor, and only now and then a new shiney

(Enough of the mods and RTAs I like for my lifetime, as well.) I use rayon for wick, and the box I got, uh, about 8 years back, is still more than half full - and I've piffed probably as much as I used. That box was about $15.
So yep, looking at the long term, dirt cheap, even though nic has spiked in cost.