>were body-builders using free weights, they would have to charge them at very least 2x.
At same spaces, yes! Good quality barbells and weights, while expensive, keep for over 30 years. Bodybuilding and powerlifting doesn't take much space, so you don't need a large space, and the customer base is dedicated and can often tolerate their gyms being a bit out of the way. Machines, however, like to break and are incredibly expensive compared to barbells and weights.
At same spaces, yes! Good quality barbells and weights, while expensive, keep for over 30 years. Bodybuilding and powerlifting doesn't take much space, so you don't need a large space, and the customer base is dedicated and can often tolerate their gyms being a bit out of the way. Machines, however, like to break and are incredibly expensive compared to barbells and weights.