What's cheaper than an already existing phone that would otherwise stay unused or end up in the landfill (recycling center)? It could also be a great experimentation platform, play with Linux on the phone, but the time I have available now leaves little room for this kind of play.
The goal is not "experimentation" but having it eventually as an always up-to-date daily driver once the support for it matures. You're quite right that we're still a bit far from that, though.