Hehehe, yes a halter would be cheap but remember that the bitless bridle does not work like a regular halter.
When you ride in a halter, you are still 'pulling' the horse's head just as a bit would do in it's mouth. With the bitless bridle, you are applying pressure to the opposite side of the horse's head and actually 'pushing', not pulling the horse's head in the direction you wish to go. It is a different way of communication.
It would very dangerous for me to ride my big mare on the trail or somewhere new to her with just a halter on, rope or web. If you have ever ridden a 17.3 h draft horse with a neck as thick as hers, you will understand HORSEPOWER as it truly is. She is a stubborn riding horse and she WILL fight if she does not want to go somewhere. Trust me, I've ridden her in a halter. Ouch, my hands got rope burned from trying to turn her head with the reins and I just 'couldn't turn her head'. She was too strong. I must have a bit to ride anywhere new. Gosh, she fights that bit somewhat horrid. She leans her head into it and gets all nasty. She'll try and run off. Hehehe...my mare is trained mostly in driving. She is perfect under harness. But under saddle, what a horror!! Her riding skills are basic and her manners are poor!!
This is why I question the Bitless Bridle. I hope it will give me at least enough power to turn her head.