Yes, I think it's fine if you treat it like gambling, or like buying penny shares I.e. accept there's a good chance you could lose your money, and that it's nearly impossible to assess it's true value, anymore than whether the next roll of a dice will land on 6.

Agreed, passing on the opportunity to buy a lottery ticket does not make you an idiot, regardless of whether it turns out to be the winning number. It was a missed opportunity, but that doesn't make it a bad decision per se.