Tthe answer may depend on what you mean by entry level gear. If you want waders, vest, fishing shirt, landing net, creel, polarized glasses, fishing hat, rod, reel, line, leader, tippets, fly box and flies from a fly shop you are probably doing well to get out that cheaply. If you have waders or are willing to wet wade when you can't fish from the bank and carry a few flies in an empty altoids tin it can be a lot cheaper getting started. All you absolutely need are a fly rod, reel, line, leader and those few flies. Do wear sunglasses or safety glasses and a hat for protection but they needn't be special fly fishing gear. I would avoid the very cheapest ready to fish kits I have seen but decent outfits are available from between $100 and $200 dollars if you aren't confident in making up your own.