Yeah, I mean, you know, you could build a studio out of cardboard if you wanted to.
Seems to me, that a building like that, without major modifications, probably wouldn't sound too good though. Although those buildings are parabolic in shape, rather than circular, the shape closely resembles a semi-circle.
Rule #1 in studio construction: No paralell walls. Circles are infinitely paralell. That's bad.
Also, the side "walls", if modified to give you a decent height, would dramatically decrease your useable building footprint.
$5600 may sound cheap, but when you start making all the necessary modifications, it may be better to look into more standard construction.
Just some thoughts. You asked!