Whilst this is going to lead to a million stories about uncles squatting 200kg off oil drums I don't think you get the utility out of squat racks.
You're missing out on a chinning attachment to begin with, something I'd see as necessary for a home gym. There's no safeties so if you want a big bench you'll have to buy those, and assuming you dont want a massive tripping hazard with plates everywhere you'll probably need a weights tree too. So yeah, not terribly economical.