Sometimes I use my moka pot which isn't the same but still produces very nice coffee when used right.
I got a Bambino Plus, which I'm generally happy with. There are some flaws, but for "only" $500 it's a pretty competitive machine for my use-case. Unfortunately that's where the costs begin, not end. Generally "necessary" upgrades include a non-pressurized filter basket ($20), a bottomless portafilter so you can observe your pulls and make adjustments ($50), and a coffee distributor which will help significantly with consistent pulls on a consumer-grade machine ($50). You'll also need a scale ($50).
And now you need an espresso-capable grinder. A lot of people use a Baratza Encore ($150), but the stepped grind-size adjustments can render it impossible to dial in correctly. For a continuous-adjustment grinder you're talking at least $500. There are very good hand grinders you could use instead for $100–$200, but grinding espresso shots by hand every time gets old fast.
All in all with taxes, you're talking a minimum of around $750 for a bare-bones setup that will have a lot of frustration and difficultly with consistency to about $1,250 for a more recommended setup that will have you repeatedly pulling decent shots.
Obviously I'm being a bit loose with the definition of "bare-bones", as plenty of people are happy with a Bambino ($350) and a cheap grinder ($50). But this is what I think would be the definition someone who prefers third-wave specialty coffee would use as a competitive alternative to going to their local coffee shop.
In any case, I think all of the extra equipment definitely helps with consistency, but I think one can get good results with practice without all of the extras. At the very least, one could work their way up to that point.
The extraction amount can be estimated by eye, or you can also just look at the color of the crema to determine when to stop extracting.
A scale is nice to follow instructions if you've never used an espresso machine before, but I don't think it is necessary. Or maybe my taste buds just aren't discerning enough :)
I manage to get a very good shot 9 times out of 10 just by eyeballing things. A scale might help, but I feel like my biggest variable is the state of the beans I'm using. I'll generally grind older beans a little finer, and fresher beans a little less fine to get the nice "fluffy" output. Based on that, I'll level and tamp, and adjust tamp pressure with older beans needing a bit more pressure. When pulling the shot, I also look at the flow and crema color to know when to stop.
I started with timers and scales and rarely got a good shot, thanks to the varying quality of my beans. Learning to read the beans and adjust accordingly is what worked for me. For those with better quality beans, scales and measures can definitely help create reliably reproducible results.
Espresso is a pursuit that rewards precision. Eyeballing your shots and trusting the timer are things that will produce wild variance in experience.
Shot scales are tremendous assets. It's a category of thing I didn't even know existed before I got my machine. A pal sent me one as a "welcome to the crazy coffee club" gift, and if it broke tomorrow I'd order a replacement from my phone before I left the kitchen.
With it, I can track my extraction precisely. I go in with 20g of grounds, and look for a 40g shot ideally extracted in 23-25 seconds.
They might not have quite the kudos of the fancier models though, and are more of a dependable workhorse.
https://www.faema.com/int-en/product/E61-MONOFASE-ANNIVERSAR...
The pinnacle for good looks has to be the Faema Urania.
https://www.home-barista.com/levers/1962-faema-urania-refurb...
Both of those are very very expensive.
At the other end of the scale, and making coffee that I’m not sure I could tell apart, is the cult classic, the Rancilio Silvia. You’ll pick a second hand one up quite cheap, and they are very good. Mine made approximately 15k coffees with one cheap service 10 years in. It’s still going well.
The Wacoco products also make a solid shot, but they are even more inconvenient for home use.
It's just right for home use where you're not making lots of espresso. It's simple, has basically nothing to break, wastes extremely little energy, takes up very little space on the counter, etc..
And once you get good at using it you can do lots of things that require very very expensive boiler machines to do and make very good espresso.
Sure, it is a bit of work to pump out the coffee, but it makes for a decent morning wake-up ritual.
I was actually surprised how well it worked, even with a cheap palm grinder.