Digital photography kind of was like this.
The operational costs (film, development) were eliminated but the capital cost (cameras) were 5x higher and needed updating more often.
A serious amateur could shoot the same film body for a decade, or even a life, with maybe some regular maintenance (fairly repairable right up through cameras made in 80s and even 90s). Maybe they had a manual focus body, then an autofocus body, and.. that was about it. The camera you were using was probably re-sellable at a decent price because the production life of any given model could run up to a decade.
With digital, the leaps & bounds being made in tech caused camera purchases to be much more frequent. Say every 2 years in 2000s, every 3-4 years in 2010s, and every 4-5 years in 2020s, as the rate of change did eventually slow. Regardless, the camera body also became practically disposable, basically a write-off if damaged, and resale value plummeted due to the rate of advancement.
As it worked out, if you were a heavy shooter, maybe the operational cost going to $0 actually netted you out on the equipment spend.
Most light hobbyists and general vacations/weddings/birthdays sharpshooter ended up spending far more in the digital era. This lasted right up until iPhones became good enough, even indoors poorly lit, that most normies don't own a single camera (5~10 years back).
Camera makers have adjusted to this new world by moving up-market, with less frequent releases, but at higher and higher price points. They understand that their main market now is hobbyists, and the decision to spend $$ vs 0 to enter the hobby is a bigger decision than spending $3k or $1.5k on a body.