I think its also a matter of you buy stuff that gets you started, and move on from there
I started post college in a professional cabinet shop, so when that ended and i started doing it as a 'hobby' I knew what I basically needed and that was certain machines. Bandsaw, table saw, compound mitre saw, planer/thicknesser.
You need to be able to rip, cross cut and dress timber to exact dimensions, and the above machines are whats needed for these most basic of tasks.
Cutting mortises, can be done with a hammer and chisel, or tenons etc, again mostly cheaper hand tools.
Sanding needs a small selection of sanders. Belt is ideal for removing the wave pitch off thicknessed boards, random orbital for finer finishing. But usually a good idea to buy quality power tools as they can have a hard life, even in small scale production.
Clamps well enough said there but to get the number you initially thought you needed, has been proven to be expensive. one clamp is cheap, but 20 of them really adds up.
And then we've got all the incidental items. Rulers, squares etc for marking up, drill bit of every conceivable size, and you then find you need a pillar drill to ensure accurate drilling.
Scalpels, blades, and al manner of cutting implement should you wish to employ veneers in your projects, again all adds up.
The bottom line is you need every tool for every task, be it wood, metal plastic or whatever, and while you can get by with utilizing one tool for several tasks, you find its more economical with your time to have the right tool for a particular job.
I started small. Basic RP 10" bandsaw, RP P/T, T/saw via ebay Axminster clearance site, cross cutter 3rd hand off gumtree. These things got me started, the power and hand tools mostly i had from working in industry.
It's only now in my mid 50's im replacing the basic machines with better quality as i can now afford them. Covid believe it or not being stuck in allowed me to save to a point I could buy festool plunge saw, kapex without it breaking the bank. The better kit is not only more up to the task, with better accuracy- therefore saving me time and reducing substantially frustration meltdowns. Plus with a company like festool, they hold their price so i can sell on if needed to recoup to get an upgraded model or something different.
Furniture making kit is one thing, but you should see my bike part collection. I've got everything times 10