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I've found a kickstarter named Warstages which sells "high density cardboard terrain". It looks quite good but I'm really concerned for the price.

A 2'7" by 3'"11 piece (which can be assembled any way you want or broken appart into multiple smaller pieces) costs €229. That seems like a lot of money.

I don't know how their terrain relates to hard foam but my gut feeling says hard foam is better than whatever quality cardboard you can produce and I can buy a lot for €229. Do you think it'd be worth it?

I don't know if the rules allow me to post a linkbto the kickstarter as it could be seen as advertising, but you can easily find it by googling "Warstages".

Uh...
Terrain can be super cheap... It all depends on how much work you want to put into it.

This terrain looks nice... ish. It's ultimately just printed cardstock from the look of things. You could probably assemble better terrain with foamcore board and work for much, much cheaper. Heck, Frontline Gaming puts out their ITC terrain which looks nice and is a fraction the price.

You can get some nice MDF stuff from several sites multi story buildings for £10-20 I don't think I'd pay that kind of money for cardboard.

Discussed here: https://www.dakkadakka.com/dakkaforum/posts/list/0/732867.page

Please see that thread there ^ for the ongoing discussion on this - thanks!