You are correct! It works really well to. Even on the hottest day of the of the century, and 2 hours of aluminium work it didn’t get part 31 degrees.
I think the setup only around about $40-50. I certainly would not blow $200 on a speciality chiller. I actually think it might be a bad idea and introduce condensation, although not something I can accurately comment on.
It turns on with the motors and is virtually silent, has a temp gauge and a visual flow meter