You can maintain maximum 48500 and this will break even, with 52k you will lose gold, you instead say that you're gaining gold. Now you might gain a little if you get a nice winning streak to get a 5x for a few rounds, but in the long term you will lose gold. Pretty simple concept, no need to troll anymore.
Sorry but you're going of an average that doesn't apply quite the way you think it does. I log in, get on a winning team, get x5 multiplier for 6 rounds with only 1 thing breaking every other round, log out. I've made money. Since the patch, I've made enough money to stay at my 40k buffer zone while purchasing 2 more horses (rouncey, cataphract) a bec, a siege xbow, 3 new 1hers and a siege ladder. Sure the law of averages may say that you're only going to be able to maintain 40k, but in practical use things seem to work out a bit different.
doesn't mean the system doesn't need tweaking, so a mediocre gear is affordable for a mediocre player.
Mediocre gear? Mid-tier gear isn't exactly "mediocre" and your numbers of 38k gear aren't mediocre either:
Longsword 5123
Pike 1589
Lamellar Armor 12030
Khergit War Helmet 1775
Mail Gauntlets 3427
Leather Boots 363
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Total: 24307
A far cry under your 38k example, only slightly above 20k and this is a far cry from "mediocre" gear....