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Yeah, but it's the getting to competitive level that ain't gonna happen if you don't have a car, don't have a boat, or don't have a place to store it, don't live near water, etc. It's not just about the boat or about a bike. If you live in a block of flats you can run, ride, box, do gym stuff, swim maybe but ride horses or sail? nah
Haha London Sailing Club website... 404 error :)
Although this lot offer cheaper membership for students and have an equality policy and stuff: https://www.lcsc.org.uk/club/membership-fees
"Members can rent club boats for £12 per day" so maybe not such the barriers to entry I'm imagining.
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Progressing once at a competitive level will stall for many kids regardless of barrier to entry, swimming you example you only need a trunks/costume and a pool but once you have to start travelling all over the country for gala's, a lot of parents can't/won't be able to support it, is always going to be a barrier for many kids
If you live near the coast it is very accessible. I raced dinghies on the river Lune as a kid and the milieu was not what you would stereotypically think of as 'yacht club' - probably lower household income than your average rugby or cricket club across the UK. Same at the sailing club where my parents live now on the Clyde.
Overall sailing is less accessible than cycling because there are fewer places to do it, and in some places you may encounter snotty attitudes. Once you get to a competitive racing level it is probably no different in cost per year than cycling though.