I started reloading in the late 60s. Back then you couldn't buy factory ammo that would shoot any better then 2-3"s. With hand loads we could regularly get under an inch groups and that was with factory rifle barrels that were generally no where near as good as what you can buy today. Over the years I have taught a lot of people how to reload, both by teaching loading courses and one on one. It is a very satisfying part of hunting to take game with your home made ammo. It has also allowed me to shoot easily 5 times as much as I could have ever afforded using factory fodder.
Relatively speaking, reloading presses, dies and the like are far less expensive today than they were back in the 70s. I have a set of RCBS 308 dies bought in 1968 that were $32 (adjusted to today dollars that would be $260). That was a hell of a lot of money 50 years ago and even though I worked part time I would never have been able to afford to get into reloading without my Dad's help.. He was quite happy for the better accuracy of the reloads but since he got all of his 12 gauge, 22 and 308 ammo free from the military, there wasn't really a cost savings when we started.
Reloading equipment and other stuff today is really well made and quite a bit cheaper in adjusted dollars. Reloaderes today are much better off than we were 50 years ago.