[Cloudef]

Gacha games are basically glorified todo lists, all of them eventually devolve into the stage where your "progress" grinds to halt and you either put in the money to get over the next barrier or do tedious daily actions to slowly power up your team to get over the barrier eventually. The competitive aspects feed the FOMO and give advantage to players who were in from the start, a kind of pyramid scheme. Such disgusting game design patterns all around. When you step away from it and look at it, you realize there really isn't a game but a dopamine box designed to trap you.

[musicale]

I don't think you're necessarily wrong, but I see gacha games as exactly what it says on the tin: capsule machines, which resemble slot machines for kids (and adults).

Of course real capsule machines sell you an actual physical item of some sort, and their bins are of limited size. Traditionally they also require physical coins. Physical items can also be traded (or resold in secondary markets) - which enables the "trading" part of "trading card games" like Magic or Pokémon.