Mac Mini's were really nice HTPC candidates, too, before the AI boom. Like all things genuinely useful and affordable, they were snatched from the hands of normal consumers by a bunch of schmucks chasing the latest gold rush.
I've been using one for about a decade as a media server.
It just sits in the cabinet happily running the macOS TV program with the video files on an external hard drive. Playback on the TV is handled by the AppleTV's built-in Computer app. Works beautifully.
I have more movies and TV shows on that box than I could watch in my lifetime — a combination of ripped DVDs (Netflix, public library, and purchased) and OTA recordings.
When the cable goes out in my neighborhood (frequently), or a big storm screws up satellite reception (seasonally), I just don't care because I'm all localhost. As long as the lights stay on, everything is fine.
No ads. No privacy violation. No fees. No bandwidth congestion. No buffering. No subscription rate increases. All I pay for is electricity.
Frankly even the entry price is a bit high - I remember buying one for my son a few years ago (M1 mini) and it was a few hundred; now we're up to $900 for the base model.
The base price of a mini has only gone up $200 from $699 in 2020 to $899 today, and for $699 you only got 8GB of RAM instead of 16. Yeah the price has gone up but not nearly as much as you seem to be remembering...
The only reason for this huge speedbump is that chip makers have been dragging their feet for the last 10 years with "just enough" memory.
Stuff is crazy expensive.
I also bought 96GB some while ago but after the initial increases, thinking I'll wait it out. Now 128GB is far more expensive than it was when I first looked. Luck has it I want DDR5 RDIMM as well, which seems the hardest hit when it comes to RAM prices, fun stuff.
What planet do you live on?