I mean by buying every ingredient yeah, but if you consider the amount of sugar, salt and baking powder you need which most peoplenown and use anyway it’s soo much cheaper to just flour and mix that stuff in it. here cheapest flours are 0,90€ while pancake mix is over 3€. the rest of the stuff you add there costs almsot nothing if you consider how little you need them. like maybe 1€ total
if you however have to buy every ingredient for the mix it costs like 4€ here.