That's only relevant if you monitor through your audio interface, of course.
Also, I'm not sure if all DAWs have always compensated playback latency the way you describe. But I agree that it shouldn't be a problem in general.
Ableton definitely does, and that's what they say they were using.
Due to the various problems with USB microphones, I generally recommend something like a Scarlett Solo + SM57 or SM58 as an entry point if you're buying your own gear. This has a price tag around US$250, once you include a XLR cable. Just like there's diminishing returns when you buy expensive interfaces/preamps/mics, there's also a sharp dropoff in quality and experience once you go below this baseline.
Even though you can find cheaper microphones and cheaper interfaces, I haven't found any that I can reliably recommend.
I've actually never encountered the issue with USB mics not accurately reporting latency because I don't think I've ever tried to record with one. Back in the 90s, in high school, my drummer friend and I went in together on a couple SM57s and a Radio Shack 4-channel mixer so we could record our jam sessions into a boombox tape deck (later a PortaStudio). I still have one of those SM57s and just pull that out whenever I've needed a mic.
When overdubbing you don't actually need to minimize latency: as long as your latency is constant, you can adjust for it. For example, if your end-to-end latency is 200ms you can tell your music program to adjust, shifting everything you record 200ms earlier.