Definitely not cheap, and nor are the song chips
But then again gadgets are always expensive, it's just relative to your own hobbies and interests.
Photography can also be expensive.
Magic Mic is just a trade name for karaoke microphones made by a Korean company called Enter Tech
The microphones have built in songs and video, and also use various types of separate additional chips with embedded songs and video.
The latest karaoke microphones by Enter Tech are branded under the trade name of Magic Sing.
There are lots of cheaper versions, but Enter Tech models and chips are good quality and with good sound. There's also a much larger selection of additional song chips available.
Just as a taster take a look at
WoW Magic Mic
and here at Amazon
We have one wired Magic Mic and a Magic Sing base unit with 2 wireless mics.
We love karaoke