Such a handheld LIDAR would be a very cool hobby/amateur project, as the mechanical side can be simple and low cost, making the capital cost low. The smarts are in the software and maths. There is also that fascination/aha factor of working though the maths and realising that smart processing means that some "obvious" things, such as precision mechanics, aren't actually necessary, then seeing it work.
[1] https://www.data61.csiro.au/en/Our-expertise/Expertise-Cyber...