Converting from AC to DC or DC to AC results in major losses of power which is why it's not that simple to do in a project like this. Plus the components needed to handle that much power and heat would make it not worth the effort.
AC is a much better method of powering a motor (IMO) but your're right, the controllers require more electronics to handle the PWM at that power level so it's more expensive. Plus you would have to add a DC to AC inverter before the controller since there is no way to to store true AC.
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