Most of the fused deposition printers (like the MendelMax, AO-100, reprap Prusa (2 and 3) can print in more materials (ABS, PLA, even Polycarbonate), and produce larger functional parts than things like FormLabs. The main issue is the striping, which is less "pretty."
Formlabs technology works much better at the low prices. While their resins are proprietary, when you factor in the cost of wasted plastic (and time) due to failed print jobs, it's not bad.
And Formlabs, and stereolithography based systems generally, have many benefits beyond figurines. Consumer electronics shells are much better suited to that format. As are most designs that have undercuts or voided internal geometries. They can also produce parts in a variety of materials, e.g. wax for jewelry castings.
I'm all for the experimentation and low cost machines, but they're far closer to toy than tool.
I'd be uncomfortable using formlabs type resin parts for anything with load or wear, using them within machines, joints for a table, replacements for dishwasher parts, etc. I can't print anything of size with formlabs type printers. If I want to make a quadcopter body, or a modern-art lamp, I'm SOL. You have valid points--just are valuing use-cases differently than I do.
Bottom line is that you can build your own Reprap for less than $500, get to know it very well, and have a lot of fun. But if you want to buy a 'tool' and start doing 3D prints with it, you probably won't be satisfied with the < $1000 printers out there.