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Magic: the gathering.
There's several different styles of play known as "formats".
The Cheapest being "Standard". Which is the latest 3-5 sets released. The deck of 75 card deck can cost upwards of £500.
Then the most popular format, modern, which is the last 20ish years of release. The average deck there can be upwards of £1,500.
Then there's legacy and vintage where decks are in the high 4 figures and some even in the 5 figures.
My roommate is big into magic, but he refuses to spend a lot of money on it. He makes counterfeit cards of whatever he wants and gets a deck custom printed for $40. He's also part of a discord group that makes cool fake cards or changes artwork on existing ones.
They're not allowed to have the official back but since he uses sleeves no one can tell. He's really up front about it and talks about how he couldn't get into the hobby or make the decks he likes if he had to pay for real cards.
There's nothing wrong with proxying. It only becomes an issue if you're playing in a tournament, or your opponent insist on using real cardboard since they probably spent a lot and so everyone should as well.
Absolutely based.
Don't forget commander, which a lot of places claim is now the most popular format. Pre-constructed commander decks can cost as little as $20-40 and competitive commander decks can easily go into the thousands.
The game also has a very high skill ceiling. I think that's one of the main reasons why magic has such a broad age range to its player base. There's plenty of weird lines of play, from strange card / rule interactions to weird deck themes no one else would think of.
Isn’t “pauper” cheaper than standard?
Also don’t forget that when the meta changes that expensive deck’s value can change (usually for the worse)
I quit playing in 1996. It wasn't too rare to have a $2000 to $3000 deck even back then. And that's when every card store had a Black Lotus for sale without having to notify their insurance company.
I always felt like Modern was cheaper in the long run than Standard. Spending hundreds of dollars every few months on a new set didn’t speak to me. Whereas I could buy a few cards here and there to upgrade me modern decks.
I'd assume a lot of people sell/trade as the next set rotation is coming around no? I'm not sure how card economy works in magic but in yugioh today's meta is tomorrow's budget, surely there's people that want to buy in play in non rotating formats