I'll compare it to other hobbies that you can learn something from and feel good doing it. say playing guitar,
Sitting in a chair cannot compare to driving a real car, even a eco-box on a track day is endlessly more involving. You can see it as another way to be competitive, but I guess you have to be pretty damn good and put a lot of time in it to justify this sort of equipment, and even that is mostly an enhancement in the experience but not performance.
I'd personally rather spend that money is spend to learn a new musical instrument, going on a short vacation with someone important. Of course I lusted after Fanatecs and this like most people who sim-race does but when I sat down and think about it, is smoother steering, better FFB worth the price of a Telecaster? I decided not.
Guess I am past that competitive stage of sim-racing.