I'm 100% sold on it being expensive today, but I can come up with ways to drive them /way/ down with automation. The critical thing is:
1) You don't need materials.
2) You don't need to transport anything other than a digger
I agree it's hard, like engineering a CPU was hard, but I think Elon's got the right idea with the Boring Company. It's not /fundamentally/ expensive. Fundamentally, building in-place with available materials should, some day, be cheap.