I agree with Ken about the nutritional value, but if you're willing to do just a little extra work, the cost of steaks can be less than ground. Cheap is relative.
I spent $31 for 18 eye of round steaks a week ago because I cut them myself. Plus my dog got the trimmings and was very happy. That's $1.72 per steak, which is cheaper than ground beef and the cutting took me less than 10 minutes.
I bought myself a whole pork loin for $11 this week. I figure that it has between 18-20 boneless chops in it at around $0.55 per chop.
Meat purchased from GFS and Walmart, so it was conventional kafo meat. Would love to be able to purchase sub-primals from farmers, but have only found ones that charge the same price for cut and uncut.