This is exactly right. Of course to understand it you have to have experienced an 'early' inkjet printer which would, if left alone for a week "break" by not printing one or more colors. That led to printers with a wiper sponge and a bit of ink solvent. Better but not really all that reliable, and that led to the current squirt+clean+vacuum sort of systems which had been standard in large format printer/plotters for a while.

And yes, given the price per oz of ink the process is quite expensive (I've heard that it is as high as 0.25/cleaning). And in the least expensive Canon printers the "waste ink" sponge is irreplacable leading to a planned obsolescence of the printer itself. Most of the 'key' ink jet patents have expired so it may be possible for someone to build a printer that is more economical but so far no one has. I suspect if they externalized the true cost of the printer and avoided the ink subsidy that they would not sell enough printers to stay in business.

I chuckled at the idea of using an old 24 pin dot matrix (or why not go seriously old school and use a line printer) printer, it is informative to note that people used inkjet printers that broke down a lot rather than use the older dot matrix printers. Granted the Canon system sucks, the Epson system is a bit better but not by much, HP, well HP can't really afford to lose any margins in their printer business.

So perhaps there is an opportunity here for a new printer from a new company.