The cheapest store bought beer I could tolerate was yuengling.. I know I'll probably get ridiculed for not drinking guiness or anchor etc. but I'm a poor grad student. Yes, money is an issue and so is good beer. With some labor I can make beer that's far better than yuengling (though I don't make lagers) and is on par (according to my palette) with some better beers $7 or $8 a sixer. I drink one a night generally but sometimes two or three or four for football games or parties.. and two is certainly normal on those nights where I've got grading to do (what a bitch). I don't think that makes me an alcoholic. I don't drink in the morning or afternoon and I don't binge.. to me those habits are hallmarks of alcholism. But hey, to each his own.. let's just enjoy the hobby and leave it at that.
As for the cost, I can't believe all grain hasn't been mentioned. Batches are maybe $15 a pop at most (a fair amount of specialty malts, high gravity, and decent hop bill). Yeah it takes a lot of time but I generally enjoy it.. it's a hobby (only the lucky get paid for hobbies). I have a have a very minimalist setup but hey it is all grain at least and my equipment costs maybe $200 total. I don't see what I'll be breaking either.. the pot is metal, the bucket plastic, and I seriously doubt I'll break the carboys. Everything else is cheap (autosiphon, hydrometer, thermometer, etc.). I think the real costs associated with the hobby come from upgrading.. there's always something more to buy that you don't really *need* to make good beer (like a kegging setup or a lagering fridge etc.).
My $.02
edit: as for others drinking it, I have only a few friends that actually enjoy beer and want to drink my homebrew and they KNOW to keep my bottles and rinse them after use. Everyone else likes that clydesdale piss...