I don't see $3.95 to $5.95 for a set of bushings that can last dozens or even (dare I say) hundreds of pens to be expensive. In fact, I consider it a bargain for the accuracy of the machining that has to be done.
I don't have access to a metal lathe, so I don't know what would be invoved in turning and boring a set of bushings to reasonable tolerances, but I can almost assure you the time needed for me to do it is worth quite a bit more than four or five dollars.
I certainly can see wanting to make your own bushings if you were making a design change to a kit and wanted a repeatable fit for your modification, but otherwise, a set of bushings is usually less expensive than a single pen kit, and can be used over and over.
What's the point of making your own?
PS... if you are just buying one kit of a particular style, and didn't want to buy the bushings, I could see that, but in that case, just snug-up a couple of spacers on your mandrel and use a set of calipers.