Trad gear is far from cheap, unless you are using old stuff(in which case the same holds true dealing with compound equipment)
Your traditional gear can be as expensive or INexpensive as you want it to be. Mankind had bows and arrows l-o-n-g before we invented money.
Cut down a tree or cut a limb, split it into staves, season it and make bows. String made with cordage from a whole lot of different plants, sinew or rawhide. Arrows from shoots or cane, fletched with feathers off the bird from last night's supper. Stone points now give way to steel salvaged from scrap metal. Armguard? Save the tops off your old, worn out boots. One boot top will make two armguards, another will make a handful of finger tabs.
Point is, just because we might choose to spend money - even a LOT of money - on traditional equipment, we don't absolutely have too. In fact, with a little time and effort, we don't have to spend a single penny to get good archery stuff if we don't want too.