Back in another board, a question was raised - how practical was it to launch a small object into outer space via amateur rocketry? (Answer, not very - theoretically possible but it's still going to cost about as much as a SpaceX.)
Here is another example. This one actually did get past the Karman line.
In the original link I posted, we are looking at a very well engineered amateur rocket project with a budget that was likely in the tens of thousands of dollars. The above rocket represents a well funded project hosted by a major university that probably had a budget of well in to the hundreds of thousands of dollars. Maybe even over $1M if you look at all the machinery involved. It's significantly larger, more expensive, and it really didn't go that much higher.
I would say the engineering of the first example was probably better. Towards the very end of the second video, when they recovered the booster, I had a hard time telling but it looks like they may of had a partial in-flight delam of the carbon fiber fins, which probably cost them a significant penalty in altitude.