I got a couple Rubik's cubes for my kids a few years ago for nostalgia and they didn't want anything to do with them once they realized it wasn't easy to fix.
I tried to encourage them to keep plugging at it but they said "how am I supposed to do this if you can't?" I realized they had a point so I downloaded an illustrated book that takes you step by step through the beginner method, and after a couple of hours I solved it!
I felt like I had climbed Everest and the first thing my kids did was scramble it again as soon as I showed them. That was the beginning of me getting into cubing as a hobby, and I have to say it's one of the LEAST expensive hobbies I've ever been a part of!
Like with any hobby there are entry-level cubes and then enthusiast cubes that are more feature-rich and expensive. But the Delta between the two is surprisingly small. The cube that I use the most is one that has won world records and it was about $20 I think?
I have bought several variations of the 3X3 and other form factors. I have also bought a few as gifts as well as a Bluetooth connected cube with an accompanying robot and I don't think I've spent more than $300-$350 total for the lifetime of the hobby.
That said you could easily be competitive with a world class cube, a timer, a mat, and some "Cube Lube" for maintenance all for about $60-$80 no prob. It's about the only hobby I have my wife fully endorses, lol.