Wasteful on a societal level, not an individual level. If everyone did what you did, we'd all need more space, and a non-trivial amount of steel. Hard to do that if you live in a studio apartment, etc. You just can't apply your situation across the population.

Personally I can walk to my gym, and I get far greater quality and variety of equipment by not having to pay for, maintain and store it myself. There are no duplicate machines at my gym, yet it spans a whole warehouse, and I've used every machine at some point as my programme evolved.

As a renter, when I move I don't have to lug hundreds of kg of weights and equipment with me.