Yes, as a parent of a college kid who did 10 years of travel ball and an 8u kid now, you just can't develop effectively in a rec league anymore. Rec leagues are effectively sports tourism. Give something a try in your free time to get out and see if you like the sport, then if you want to get good at it you have to jump to a travel organization, at least at some level.
Unfortunately, even with that truth, some travel programs are effectively money printing factories, where they have 5+ teams per age level, focusing on the development of the top team at the cost of everyone else, where if you're the parent of the kid on the bottom tier, you pay the same (or more, those top team kids get benefits sometimes too!) but just don't get the same level of attention and spotlight as the top tier kids.
Then you get into the organizations that run the tournaments and leagues, and those get ridiculous as well. Leagues effectively run for the lower-end travel programs so you can get mid week games in between weekly tournaments. Tournaments run usually 4 days a week, where Saturday and Sunday you can play 2+ games per day, up to as many as 4 that I've been a part of. Just to get in the door at these tournaments a team is paying upwards of $700 a team, with some of the more prestigious tournaments going for over $1k a pop. That just gets the team in, though, as then to see your kid play that's another $10 a day, and maybe even an extra $10-$15 to park in the parking lot.
That's just the games, though. Training is another beast all together. If you are fortunate to latch onto a travel program with their own facility for training, that's great, but that all costs extra on top of the tournament and team fees usually (or it's rolled in with the team fees, and team fees are $1k more for those programs). Depending on the team, then you get 1-2 days a week of training in the off season. Then you can augment that with private lessons for hitting, pitching, catching, or fielding for an extra $50 a session.
All told, at a high end program with their own training facility, playing 10 tournaments a year, you're easily out at least $2k per year plus about $500 for private training if you're extra serious about it. The younger the player, the more they benefit from training compared to game environments, so it's a better focus (like at a 3:1 level for 8u up to about even for 17-18u). That's before equipment, too, where bats run up to $500 for even little kids at the high end, and gloves can run $100+ easy (and if you're a catcher, that's a good $500 purchase new as well, hoping it lasts a few seasons)
And we were up in the northern US for all of this, so you could really only play games April-July, trying to fit 50+ games into the spring. Down in places like Texas, Arizona, Florida, or California, you could easily play year-round, 100+ games a year.
Is it all worth it? It shouldn't have nearly that large of a barrier for entry for anyone, but so many people see dollar signs in it, everybody gets their cut, and parents are left footing the bill. You can't go into it thinking you'll get it back in scholarships, though, for college, that's maybe 1% of everyone that plays. Everyone else ends up spending a cool $25k over 10 years just to help your kid succeed and enjoy sports.
What's the fix for it? I don't know, really, it'd have to be scorched earth and rebuilt from the ground up. Public programs for training and team building, community organization for games and tournaments, shared incentives for equipment and gear, objective evaluation and team placement, separate education from sports, more similar to a European sports academy than an American pay-to-play club (though the Euro academies have their own wild problems with how much they take advantage of players' effort and labor time).