Can a lathe really build itself?

Ok fine. A lathe also doesn’t make cast iron. So you’ll need patterns, and casting sand, and a really big fire....flasks, chains hoists...and all manner of other equipment and expertise just to have the unmachined parts to begin with. Of which I’m fairly clueless, as anyone with actual knowledge would know from just what I’ve said so far. But a lathe, with excellent operator at the handwheels could definitely make a serviceable version of just about any single component of which it is comprised. Try that with your hammer. Although, I bet you could make a hammer with a hammer...so maybe a lathes not so special after all. I’m keeping mine though.
 
Ok, so theoretically possible but not practical. I can definitely see the repair itself part assuming the roundy, round bits are the most likely to quit working.

I was watching a video and heard that comment made for like the millionth time, and was wondering how true it was.
 
I grew some broom corn a while back. Last week I stripped the seeds, sewed the stalks together, tied and wired them around a willow stick, trimmed the bristles, then used the broom to sweep up the mess I made making the broom. Not exactly building a lathe with a lathe, but worth noting?
 
... I didn't realize just how bad the cross slide feed screw and nut were. They failed (actually fell off the machine) before I realized how bad they were.... there was no repairing it. I had to use another machine to make a new nut and screw.

One could tighten the gibs to lock the cross slide. With the compound still working,
you could make two screws, and sharpen one into a tap...

Painful, yes, but not impossible.
 
What is a lathe but a motor with a bed & a couple of screws to maneuver a cutter.
What is a mill but a motor with a table & a few screws to maneuver a part. In so attempting to make a lathe or mill with either machine, I would at least also require a significant hoist to maneuver large pieces of steel plate & rod. Oh & a knife to cut gaskets. & that's all I need. & a grinder to sharpen bits. & that's all I need. LOL
 
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