Yes.
Even a (free) lease (which means no lease fee other than actual expenses) at a barn like that; might be $1500-$2500+ a month. So a 1/2 (free) lease could easily be 10K annually. In the Bay Area similar facility add 50%+.
The added cost of a couple of those USEF sanctioned H/J shows, easily $1500-2500 each. Add another $2000 per show week for showing out of area.
Anyone familiar with that show venue in the posted video, knows results can be found on Horse Show Time. Always interesting to compare results to conjecture.
I was expecting COVID to drive the horse sales numbers up and the prices down. That doesn’t seem to be the case. The asking prices of a 12-14 year old, grade, reliable trail horse seem to start at $5000+ Crazy $$$$.