We already did - a cheap, expendable, armed drone is a cruise missile.
Close, but still $1.3m a pop, with the current model. What I imagine is a beer-can body, a cheap engine and fuel tank, with literal wire guidance, an integrated tube back up brain and a plug in off the shelf computer brain. Optimally, about $50k a production unit.
The first attack is a coordinated launch of about 200 drones. Maybe four F-16s are scrambled when the slow moving air armada is detected. The F-16s hit a bunch with their AESA radar, to fry their electronics, which does, but then their tube backup takes over for the last leg to target.
Each F-16 can engage six targets, so scratch 24 drones, assuming all hits. The F-16s are empty and have no choice but to head home. This leaves 176 flying 500 pound bombs en route to target. SAM batteries take out maybe 76, leaving 100 to hit near their targets.
The second salvo has 400 drones, attacking degraded enemy defenses. This still leaves hundreds of drones in reserve.
If the price was down to $50k each, 2400 more drones, all for the cost of a single F-22 Raptor.