There's a whole community of video gamers who do this:
https://www.reddit.com/r/patientgamers/Cost is the most obvious motivator, but for me it's more about filtering for quality in order to best allocate my limited adult gaming hours— why sink the time and money into a just-released title that might turn out to be the next Anthem or Fallout 76, when you can wait a few years about pick it up for $10-15 once it's a known winner?
That said, even within r/patientgamers, there's a spectrum in terms of just how patient some people are. For example, some people are just getting into stuff from the Xbox 360 era, whereas others are already talking about whether RDR2 has stood the test of time or not, ha.