Mandalorian was about $15 million per episode in season 1.
Clone Wars was about $1 million per episode.
Certainly cheaper to make cartoons than live action, but not exactly shoestring.
It’s difficult for me to find a good price analog to a 2D cartoon made recently that has a similar amount of action, and doesn’t have the budget weirdly skewed by licensing.
I would guess that to make a traditional animation as detailed, full of motion even in backgrounds, and full of constant action scenes it would probably be more expensive and time consuming compared to 3D.