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Transactional email services are about $15 per 10,000 emails. I'll round down to $10 to consider b2b deals and let's just say it's $10,000 per year. That would be like idk 84k emails a month.
Keep in mind this doesn't consider the DB hosting and the processing of expiring emails and salaries, so yeah, I could see it.
Edit: before anyone yells at me. I can't math.
Not yelling, but pointing out, to people who also dont math, that if we assume $10 per 10k emails (or $1 per 1k, for simpler math), that’d be $84 for 84000 emails in a month, so you need to add another 0 to the figure (ie 840k emails in a month)