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I mean, there there are going to be other costs that dominate in that case anyway (if someone's going purely for the purpose of purchasing cheese), but if you're personally carrying the thing, is cheese duty-free?
googles
https://en.wikipedia.org/wiki/Duty-free_shop
Hmm. Doesn't really answer the question, as that's not specific to the UK and the second bit is about people buying in the UK to take goods to the EU.
looks further
https://www.gov.uk/bringing-goods-into-uk-personal-use/print
looks up the price of a Dover-Calais round-trip ferry ticket
About £190. I assume that that includes any cost of clearing customs, that there isn't any additional fee.
So my guess is that traveling to the EU in person -- while an option -- to obtain up to £390 in goods is probably, even excluding the time and other costs, going to be more expensive than ordering it, even with the processing fee being discussed in the article. But if someone's going to be going to the EU anyway for some other reason and just picks up the cheese on the way back, it could pay off relative to having it shipped in.
In honesty, it's also an excuse for a jolly.
"Darling, we're out of your favourite cheese, I guess it's time for a long weekend on the continent."
French wine has always been a lot cheaper for comparable quality, anyone coming back from holiday with less than 4 boxes raises eyebrows!