As far as an expensive hobby goes I think many hobbies are considerably more expensive than beekeeping and you get little other than feeling good about yourself in return.
I think all in my first hive cost me around $1000 in my first year. $200ish for the hive, $250 for suit, gloves, smoker etc, $250 for Nuc, $150 for baverol / apivar / apistan anti varroa treatments plus $150 for honey buckets, strainer etc. Plus fees for inspection and registration.
As a hobbyist I calculate hives cost around $100 per layer for a 3 to 4 high full depth hive by the time I've got frames, nuc etc.
I could reduce that I some areas but played with top feeder, hive doctor vs wooden bases, frame feeders, plastic frames etc.
I've got 4 hives and am about $2500 in outlay over 2 years. I now also have a sense of what I do and dont like in gear, am ready to try making my own splits and have spare frames ready for supers etc.
Hope this helps as a rough guide to my experience as a noob.
Honey - i got around 40kg this year of multi floral which returned $20 per kg for sale via a community org as a fund raiser. We have orders for next year lined up. People like raw, local honey. Demand exceeds production. Next year I expect double that in honey as I should have 4 mature and producing hives. This year had 3 startups.
If my wife sees these numbers I'm possibly a dead man - but as I explained, over 2 - 3 years it will pay off as long as I dont count my hours of work (play).
The girls are worth every cent IMHO but i will never be a rich man from bees.