I was curious about this. NR perspective living in a state that doesn't issue reliable OTC elk tags to it's residents. From the freezer filling aspect, it is very easy to still keep killing a cow elk or two cheap across the west. NR can very easily get cow tags in numerous states with very high success rates for around $300-$700. Cost/#s of meat actually checks out pretty good there.
Add antlers to them elk and the game completely changes. To apply in every state offering NR elk tags, the non-refundable fee portion of those applications totals up to be $2403.42. Aside from CO where it is on the brink of changing, there is almost no guarantee that you can annually with that $2400 secure a bull tag that has over 25% harvest success rates. Due to states like CO, WY and MT having points with abundant bull elk tags, you can cycle between them with a reasonable bull elk tag every other year or so. Again assuming that CO NR hunts are about to all take 1-2 points to draw. Those fees are also likely to just continue to go up. NM is one state that is for sure overly due for a big price hike in the application cost as right now its less than half the cost of the average non-refundable application fee.
Financially, buying a 5-7k bull elk tag voucher in NM every 2-3 years is soon to be the better option. That is what makes me more upset then the fact that they exist. As a boy, elk hunting was a dream that lived inside my head only through articles written in outdoor life, field and stream and boys life. It seemed so far away and impossible at the time due to travel logistics and time but I knew that someday I'd make it. Now when I tell young kids I meet about elk hunting and that they should do it, their parents look at me and say they can't afford that type of hunting.