Since all TVs/Monitors/Projectors have had HDMI for some years now, i think it was a wise choice. IIRC there is still composite out for those stuck with only analogue connections.

The thing is the digital-to-analog converter would simply add too much cost to the device. A lot of these kinds of boards don't include VGA output because analog is (relatively) expensive, compared to digital.

Not sure where you are located, but in most bits of the US (and many other countries) you can find a small used monitor on Craigslist that has a DVI/HDMI port relatively cheap.

HDMI => DVI => VGA should work, no? A lot of adapters, but at least you'll get a signal out of it.

The HDMI socket on the Pi carries a digital signal only.

I checked - those adapters cost more than the Raspberry Pi! Around $50.

The cheap cables you may be thinking of require the device to output a VGA signal.

Not ideal, but you can get composite (CVBS) to VGA converters for about £15 on eBay.

HDMI => DVI would be enough for every monitor I've owned in the past 5 years.