To each their own. Whatever works for you is best.
For me, Its been a fun thing to go through and try waxing. Been able to learn a lot more about my bike due to having to maintain it a bit more thoroughly. But I would hardly say that waxing is a necessity.
In terms of overall costs, its been very small in practice. I bought a small hob, a double boiler, and a few glass jars along with the mineral spirits and alcohol. In total, roughly 70 pounds for the final setup, 90 if you count my crock pot that I don’t use but does have wax in it. However, I haven’t had to change my waxed chains in over 2 years that I’ve been waxing and the tolerances are exactly what they were when I first waxed them.
If anyone is really debating about waxing, take a really honest look at what you are willing to work on with respect for your bike and your specific needs. If you hate doing any maintenance, just don’t wax. Its not worth it. If you rarely ride, waxing isn’t needed. If the weather you ride in is bad, don’t wax cause you will need to re-wax the chain after every wet ride to be cautious about rusting.
That said, I would say that if you are an indoor cyclist, waxing should be seriously considered. The wax means no grease everywhere which is a huge plus if you cycle indoors. Also, the wax lasts a VERY long time. I’ve found that with a Neo, you can get about 3-4 weeks out of a chain before a re-waxing is needed. It takes only 1 time having to remove bike chain grease from your living room in various spots over a day that you realize how great a waxed chain is.