no other tool in a machine shop is as versatile as a lathe. everything else does a one or a few jobs, the lathe does them all.
it's also the only tool in a machine shop that can build a version of itself with no other tools (excluding the nut behind the handwheel).
Next year, new roof on the workshop then I'm hiring a van at last and going to collect my lathe.
There's a similar trick you can do with a bit of thick leather - you fold it in two, clamp it between two bits of wood, then drill down through the fold. Open it out, you've drilled a square hole.
It took me a while to figure it out. Ideally I should have had a milling machine. Or maybe forged it, but I didn't trust my heat treating skills for this as strength is critical. Also can't weld anymore so this seemed the only (but tedious) option. Notice that the round bit at the end has a stepped recess inside. This is for an endcap to fit into so I have frame in the middle.