There are more expensive hobbies like golf, go-karting, art collection, sneaker collection, polo, or classic car restoration. There are less expensive hobbies like most casual team sports, reading, gardening, photography, cooking, cinemagoing and small DIY craft projects. Gaming falls somewhere in between. Where do you class it?
At its most expensive you'd be paying for
- Base hardware
- Controllers/Keyboard+Mouse
- Extra storage
- Headphones and other peripherals
- Games
- Collector's editions
- Microtransactions
Subscriptions for online play(console exclusive)
- Electricity cost of running hardware + display + surround sound system
- Others I can't think of right now
These are all subjective definitions, of course. Expensive is relative to your socioeconomic class. Income level. Per capita gdp. So on.
Another factor would be the floor argument. i.e. the floor of a hobby, or the hobby at its cheapest, should be used t determine whether it's cheap or not. the issues is that the cheapest you can get for games is around the cost of an old gameboy or psp. Overall less than a phone and can still be considered hobby gaming.
To that, I say focus on the typical modern gaming experience. Mobile, Console, or PC only. That already sets a baseline of hardware cost
On the whole though, regardless of your personal wealth level, is gaming an expensive hobby for the average person?