In other words, you were looking at about $10K to $15K worth of gear to start-and that's before you got to microphones, speakers, and other accessories.
Twenty years ago, to record a music album at a professional level, you needed a sizable mixing console, several eight-track digital records (such as ADATs or DA-88s), and a good selection of outboard compressors, reverb units, and other effects, plus a two-track deck to mix down to. There has never been a better time to buy digital audio workstation (DAW) software.