For a hobby if you’re into that kind of thing, yes, making bread at home can be fun and easy.
For cost effective, not even close. Homemade bread cost 2 - 3 times store bought if you factor in all the time, tools, equipments, electricity, and materials needed.
My wife loves baking. The upfront cost for all the equipments and tools are thousands of dollars (including a very nice oven). After that, the cost of material has never break even compared to store bought because we always use higher quality stuffs. Also bakery bought their supplies in bulk so it’s even cheaper.