Was this ever an option for regular folk?
Speaking of which, 10 years ago I was looking into Elite visa and calculated everything carefully. Back then visa runs were extremely easy. With transportation, staying in hotels, paying visa fees it would have been about 50,000b per year cost in the low end, VS Elite visa which comes to about 100,000 a year for 5 year elite or 50,000 a year for 20 year elite.
Today everything is more expensive and A LOT more difficult. I believe the Elite visa prices are still the same.