Well yes, but also lack of money is a big issue for buying games plus the hardware to run said games.
That and being in that situation it's easy to get burned out on buying stuff due to not enjoying previous purchases, or them not having much replay value (sometimes it is possible but tedious in implementation). Also unforgiving/tedious game mechanics in general.
Though personally I think I get about as much enjoyment (or ~80%) watching a let's-play of some games (especially if linear/atmospheric/multiplayer etc, and even more if it's the story-ified or custom goals like ambiguousamphibian's videos) as I would actually playing.