Yes, some seasons it's a waste of money but not all. For instance, I spend $10k a week in scouting, it means $150k over a whole season. 2 seasons ago, I drafted an "hall of famer" player and I managed to sell him for $500k, it covered my scouting costs for 3 seasons. A lower potential player with good starting skills can be sold between $100k and $200k, it's exactly the cost of a season of scouting.
On the long term, I lost money but I like the gamble, I think it's a fun and exciting part of the game so I don't mind losing a little money for it. I waste a lot more money in training when a player misses minutes or something like that.