No, for me MMOs really pay off. Other and most single player games last 20-30 hours, sometimes over 50 hours, rarely over 100.
Examples: Risen 1 - bought for 45€ played for 50 hours. That's 1€ per hour. Bought Stronghold 3 for 40€ - played for 1 hour.
Once you join a guild you play regularly, thats maybe 3-5 hours a day, longer at the weekend. For 13€ a month, that's really worth it.
Of course there are games that you pay once and you play for years, famous example for us Mount&Blade:Warband but that is one of the few I really spent that much time on over years. I played warband for 5-6k hours now (includes native, crpg, nw, mm and vikingr) since early 2010. That's 25€ for the game on release, 15€ for NW, about 150€ for clan donations, another 50€ for other donations. In the end it was worth every cent for sure.
Let's do the maths with WoW.^^
Bought the game in late 2005, thats 45€, Addon BC,WotLK,Cata + Pandaria, each 35€, thats 185€ + monthly fee, 120€ a year, thats another 1080€ (minus some free months, thats 1050€). So in total I paid about 1235€ for nearly 9 years. Imo thats not a lot and was totally worth it.
I played some f2p korean MMOs at the same time that used up to 30€ a month for certain upgrades, ie. premium pack, more xp and stuff. Was worth it as well though those games aren't worth to play anymore as they're bot infested.
It's a hobby, and you have to decide yourself if you want to pay for it or not. If you play one game, it is certainly worth it. Especially if you got the money to pay for it.
I also invested about 200€ in dota2, for tournament tickets and equipment. And there I got about 1200 hours playing time only.
My WoW chars got more than that each. ;)
Smoking is another case though. You don't primarily smoke (unless its a cigar) but you do it while you do something else. So of course it is expensive.