Death and something, *ponders*...

[Mithrandir]

Imagine playing Monopoly, and someone whips out a real $20 bill and offers it to the player across the table for Park Place. It's within the rules, right? I would feel like, not only is this guy totally wasting his money, but he is kind of screwing up the game for the rest of us too. His $20 don't have any place in the virtual real estate world that I am trying to conquer.

This is actually a pretty convincing analogy, but I tend to disagree nonetheless. The difference lies in the fact that Monopoly games last only a few hours at most. Many of these MMOs have been around for a few years and will continue to exist many years from now - considering that the length of time is so substantial, is it really so ridiculous for someone to not mind spending $20 (or $100 or however much it may be) for something that has the potential to give them enjoyment over the span of several years? If Joe Blow has a 9-5 job, a family, etc. and will never have the time to acquire certain items/things that others with more free time can (but has some extra cash laying around the house), I can completely understand his desire to want to experience that aspect of the MMO that he otherwise would not be able to. Specifically addressing your Monopoly analogy, I agree with you that I would feel like that individual was wasting his money (unless he was just so rich that he doesn't care at all) but on the other hand, if he really wants that property that badly, more power to him.

The immersion-destruction aspect is a whole different issue that I can't really comment on since I never felt "immersed" in the first place playing a MMO, but I could understand how that could be a big issue for some.