I think you simplify a bit too much.

You need to include a value added from using a product along the way. Example: living in a one bedroom apartment and be able to buy a house would significantly improve my life, so even in if I had to do a major reconstruction in 20 years, I think it’s easily justifiable to do so since you don’t have to live squeezed in a small apartment in a bad neighbourhood.

But still a good point, and mostly I agree with you. I am also extremely hesitant to part my way with any satoshis I have.