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Thankfully, having knowledge of something over someone else doesn't require that I live or exist in the same demographic that they do. Thank (a possibly non-existent) god for education. :D
Definitely wouldn't call it that. You have your own perks, interests, and dispositions just like your aside comment to what I can tell are the religious beliefs you hold. They don't make you any better or worse than anyone else when making decisions for what media to consume or how we go about partaking in it.
I've talked to plenty of people who think League is actually a giant very transparent cash cow as you described when compared to MOBAs like DOTA. They think the inherent lack of option to pay for the content up front like any other game and access all the content is just the same as other playing to win. As much balance as Riot has put into the game it plain and simple does have its share of characters who are better than others. So working for hours in one game just to get one character without having to pay money is basically how F2P has to work to try and incentivise players to keep on trucking or break down and fork out real life currency.
Activision billions in revenue without actually updating the game any
I always have this conversation with people. Call of Duty has definitely changed with each passing iteration in terms of how the multi-player is structured. COD 4 and it's WWII actual carbon copy (but no less fun) obvious changes aside MW2 tried to tack on too many added things without changing the core and, to me, it is the weakest titles only beaten out by COD 3. Black Ops changed how the class system and progression worked with the economy based COD points system. There you won points after each match that you could use to buy certain pieces of kit or certain attachments for guns. Along with this idea they were able to add gambling style games called wager matches that definitely added to the TDM and CTF formula where you bet said COD points and could either hamper or streamline your advancement depending on how much you put at stake.
MW3 was a safer title, but offered different ways to play with kill streaks. Killstreaks gave you the option of supporting the team with a constant aggregate point system to call in things like body armor or advanced UAVs for the whole team to use. The more common killing killstreaks were present in another tier and the option to not be able to call in any extra supports in favor of earning extra perks for kills was present. Black Ops 2 further changed things by adding a point system to your classes that most threw away structure of your class in favor of a ten point system where you allocated your kit depending on you wanted where you could do away with literally everything if you wanted including perks. Ghosts took systems from MW3 and Black Ops 2 and combined them for familiar, but new gameplay and admittedly has made the least change since MW2, but from what I could play still worked.
COD titles continually outsell themselves until Ghosts so the fact there is still a market does not mean a bad thing. Other titles that change relatively little in the industry are rampant throughout. Any sports title, Pokemon, and plenty of Nintendo's big titles are about as similar from iteration to iteration and while some may not come out annually like COD that still doesn't excuse their lack of titanic change any more than Activisons' FPS.