I'm surprised so many people are willing to spend so much on mining equipment. It is a real risk but I guess people have more money than they know what to do with. Or they have "free" electricity?
Because the latecomers see the people who mined back in 2011/2012 with 10s and 100s of BTC so they think if they mine they will become similarly wealthy. It doesn't work like that or everybody would be buying Google, Apple and MSFT stock now.
Until mining equipment becomes reliable WRT delivery times and profit margin it's just better to buy the coin outright.
I think mining and investing is the right direction... You can invest in BTC and use some of the profits to mine... Admittedly the volatility of BTC offers the chance to make handsome profits... And loses. Plus mining is also great fun!