Late to the party but my hot take is you can have fun while spending under $100 on equipment (if you live in the right place). I found my board and cheap ass 5150 bindings for $40 on Facebook, boots in the dumpster but work great, helmet for 50 bucks on sale (no mips which is an issue but I'll get one later), jacket and pants I already had from handme downs.
I'm not doing back country, but I'll be damned if I'm not having fun.