Very rationally described. I agree with you. It is one of the cheapest ways to kill a few hours in a world where it feels that nothing is truly free anymore.
But there are still certain elements that we are encouraged to need or want in order to perform our best (or like the pro we idolize). Not everyone is as infallible to gimmicks, wants and needs. Not everyone applies logic in the same way. Not everyone is in control of their cash flow in the same way. Psychology and spending are something exploited for more than a short period of time throughout history. It is one reason I agree with the title thread, and understand how some people perceive it to be a rich persons game. I was a bit over-awed by all the fancy cue talk here when I first stumbled on the forum
We definitely don't need all the new stuff, 20 shafts and 5 cue cases, but the importance of owning them is pressed on us. Whether the latest tech is placebo or not. Whether the re-sale or collectability is worth it or not. To some fragile people, having those things matters and does affect their performance or impact their self-worth even.
It's one of the biggest gripes I had with pool when I first started playing (I know I have whined about it a few times here before), and it's why I am glad I have chosen the 'one cue to rule them all' method. Picking out a stick that's going to be playing with me until I can't play anymore.