Next cheapest would be a low resolution LCD display, (30x80) that has its own set of issues. 7 segments at minimum provide for high visibility even if they fail at high readability.
note: price doesn't have to be money, complexity is expensive
Why isn't there a market for 14-segment displays or other simple alphanumeric displays?
edit: Childen comments use the phrase "for a few more $" a lot and i think they miss the point that if that was acceptable and easy we wouldn't be talking about it.