I think buying them a toy they want occasionally will make them really happy, and that alone should be worth it to you as a parent.
I don't think they are that important, but at the same time I don't consider them a waste either. It's just something that's nice to have when you can afford it, but otherwise I think that even if kids grow up with a Just a few toys it shouldn't affect them that much since they are full of imagination anyway and kids usually can make toys out of everything. Also not buying toys gives parents an excellent opportunity to teach kids resourcefulness and also it gives them a good opportunity to have some bonding time by spending a few hours helping their kids play.
I have a 6 month old. If I did not have something that is designed to entertain her. I would be doomed to walk the floor boards day and night to keep her calm. She does not grow weary of the toys. I have different ones throughout the house so depending on the room, she had something different to distract her. My 2 year ok does stop playing with son toys, but we just put them away and pull out others. We he tires of that toy we bring the first one out. We rotate them. I think they are worth it. They help in imagination, physical skill and an opportunity for the parents to have time to themselves. I do know that I had to play with the toys with my children to get them involved. Once they are involved then they play on their own. It doesn't come natural sometimes for how to play with toys. Parents have to teach their children.
I'm pretty sure that for a kid to grow up happy and healthy toys are a must. Not exactly hi-tech stuff or the newest trends, but a kid needs something to play with, especially so they won't feel excluded from their peers.
