I used to buy a dozen wood bats every year. I think it was about $125 for a dozen Adirondacks (1970s). I played 30 or so HS games, 60 to 80 summer league games and hundreds of swings every week in practice sessions. The dozen bats lasted through every season. I started using the aluminum more in the last few two years of HS and until I found the Wilson Indestructo I would go through 3 to 6 bats each year. I think we were paying about $50 per aluminum bat. So the cost was actually pretty similar.
When I got to State we were provided a bat each. The first year I did not particularly like the Worth Bats they got and went through a few of them. (One ended up in the woods where the Palmeiro Center now sits). I found the Easton at the CWS that year. The Easton bat was much better, but I still asked for two bats each year so when one started dieing I could switch to the other. Not sure on the costs, but every position player got their own bat.
When I went to the Minor leagues, Houston allowed us to each order a dozen bats. Again they lasted me throughout the summer.
One reason for the cost increase in wood is the markedly less usage of those bats. If they were to be used more, the per unit cost would probably go down.
So basically wood bats don't break as often as you might think. If a team is supplying each player with a $250-$300 aluminum / Composite bat today they could probably provide 6 wood bats for about the same cost. If a team is providing 3 bats for all the players to share, then yes it would be much more cost effective. But even in our day the team bought those Jackie Robinson rounded out 4x4 bats and they would never break.
I have said a few times in the past that D1 should go to wood. With the limited amount of scholarships available, you can at least sell the player they are getting prepared for the next level while getting that education. I am not sure if the scouts still have that big concern of aluminum to wood transition, but it was a big deal in my day. I assume it still is because of the wood bat college leagues that they have today. This way you can play in college and get prepared for a potential MLB future and that player who went right to the Minors 3 years of wood bat exposure are not as much of an advantage.