Is there more to a draft tower than just a metal cylinder with tapped holes?
I found a post on here from 2005 where someone noted they make their own tower by drilling into a metal cylinder but it took many hours.
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And also, shanks are important to purchase (and not DIY) because they are set to the right sizing/ threading / hardware to just quickly connect a faucet, correct?
Its pretty much just a metal tube with a lip on one end so that you can secure it to your kegerator. It also is predrilled for your shank holes and has a top cap. They are insulated and some have a collar that covers any screws at the base. They are pretty easy to drill, I drilled my tower to accept another faucet.
The ring you are seeing towards the top of the shank with the holes in it is threaded inside and will tighten down against the faucet with a faucet wrench.