Yes, for a precision equipment, we should look for something on the $100+ price range. For around $20, most people would be OK with being able to simply assess whether a particular DUT is damaged or not, or perhaps within the operational window. In that regard, I think madires and previous people have made a remarkable job, with some help from other collaborators of this thread.
If you want to move this a little bit forward, the issue is to achieve voltage stability with load surges, and minimal noise (not only for DC/DC converters but also for linear regulators in this scenario). Another thing would it be to use good quality components, and not the typical knockoffs.