There is wisdom in what you are saying. These builds can easily become money pits and unless you know what you're doing they can be unsafe. If the interest is solely in transportation either for pleasure or for commuting one might well be better off with a used moped or small motorcycle.
That said, there is another whole aspect to what we are doing here. Building your own motorbike can be a very cool thing. It makes an interesting project and in the process you become very familiar with your machine. Because you built it, you also know how to repair it. And like anything else custom made, you can make your motorbike suit your needs, budget and tastes. Some of us put a lot of time, thought and energy into our builds and when the day finally comes that we take it out for the first ride... it is time for big smiles and celebration.
We are also part of a community of like minded people, some of whom become riding or building buddies. For me one of the best things about motorbikes is this great community of people who bring a lot of know how to the table. Some are mechanics as to be expected, some are designers or welders or engineers or just about anything else. I've learned a lot here and built some bikes I'm truly proud of. Their value goes beyond money since they have become a part of who I am and I have become part of what they are. Ownership through buying ready made and owning through effort and creativity are very different kinds of ownership.
SB