I wouldn't say it's too late. I honestly think going budget and simple would be perfectly fine. Prices of records have definitely gone up but you can still find decent deals. Music is where I spend most of my disposable income so I keep upgrading a piece every year or so.

I don't know if I have the patience to learn an instrument anymore. I bought a midi keyboard a couple of years back. A month or two later I pretty much just put it in storage lol I did use to play the trombone when I was a kid and learned to play simple piano arrangements.

I'd say if you have the money and some time to kill you should give it a go.