Yes, I also think it would be more expensive and a lot of work. However, I also believe that a wll balanced raw diet would be very healthy.
But it would be a mistake to only gove the cat raw meat. One of our cats is a hunter and she brings in mice, birds and an occasional baby rabbit. Now there apparently are prey-to-play and prey-to-eat, don't ask me how she distinguishes between them.
But the prey-to-eat gets devoured very methodically and she doesn't just eat the meat. Everything (brain, skull, hair/feathers, toenails, bones, tail) gets eaten, except the gall bladder and sometimes the intestines.
Dessert usually is a few pieces of kibble (biscuits?) and if we're lucky she doesn't puke it all out within 15 minutes
Anyway, the point being that it would take some study to put together a well balanced raw diet for a cat. Although I would consider supplement biscuits that only have 4% meat with either quality canned food or some raw minced meat, chicken hearts or one-day-chicks. Perhaps once or twice a week? I'm no expert, so don't take my word for it. But 4% actual meat in the cat food sounds as though it might need some improvement.
Just checked our catfood, it has 18% salmon and an undefined quantity (but lower than 16%) of dehydrated poultry protein. The brand is Pro Plan and it sells for 20 pounds at A'zon UK. Such a bag lasts us over a month and if I take it at 30 days it would be about 33 pence a day per cat to feed it this food. Our cats get no other food, as they won't eat it. One of them obviously supplements her diet with her own catch.
Well, I kind of got distracted there... but I doubt that you could feed your cat a balanced raw diet for 33 p a day.