I've done the first, and get good results with aluminum, brass, and both mild and stainless steel (although stainless is probably pushing the limit here). Your anecdote + my anecdote don't equal data, but your use of absolutes -- specifically "the only way" is incorrect. It can be done, and many have done exactly that.

Also, your magic $10k price-point mill doesn't include the cost of tooling, or workholding, or CAD/CAM software, etc. So now you're just reaching for anything to inflate the cost back up to your number.