Expencive is relative!
I know people that spent €50+ a week on "stupid" browsergame without a chance of winning anything decent.
I know people that buy EVE Isks for around €100 every month at EBay.
People spent money for games that they consider beeing their hobby, same counts for EU.
If I compare EU (one of my hobbys) with my other hobbys its still cheap spending $15 (150 PED) for an 1hour hunt and still have around 50-80% of my money left as loot.
I played a lot other MMOs befor I started EU, I am still at EU, although I tested a fair number of other MMOs after starting with EU.
I like the challange EU offers in a way no other MMO does (survive in an RCE limited to your RL money you are willing to risk to lose!)
I like the oportunities EU offers, no other MMO does (making real money, and thats really possible to do).
For me it makes much more sense to spent €50 into EU than playing any other MMO for 6 month and then delete my account there, because I am done with that game (top level, top gear, no more challange).