Euh, that's everybody for himself to decide.
To me ? Yes. To you ? Maybe not.
Here it is : if you _question_ it, probably not.
There's nothing you absolutly _can not_ do with a smaller machine, at least not in the type of enviroment like this (hobby/crafting/recreational).
But having a big sized one can -not always will- make your life substatially easier as a 3D printer. It also produces a couple of extra issues, depending on what material you're aiming to print. Stress-induced faults will be something you would be battling a lot more on a monster machine than a (relativly) small build size when you're using, say ABS.
But it does make it possible to make bigger objects with less afterwork. Like a gauntlet/leg piece in just one part like I can on the Hatchbox and the selfbuild/designed 280x390 (depending on hotend) Delta's I'm lucky to own.
A full helmet on something like a Formbot/gMax/.... ? No problem.
By the way, there's also a Multoo MT1 out there. Fairly new. Also a gMax clone, without the whissles and bells of a Formbot. Goes for about 1200USD. Didn't want to mention that one because I have personally no experience with them what so ever.
If you say "screw it, I simply craft it together" than just keep doing that. In the end, in real life, it's unlikely someone will notice.
TBH, look :
http://www.3ders.org/articles/20151...-3d-printed-master-chief-armor-from-halo.html
Look at the pics. That is amazing work. And it was done on a humble DIY Velleman K8xxx series which has a buildplate very much comparable to your current machine.
BUT also look at, for example, the shoulder piece. Although nicely done, I can still see the seam running down that part at half width of it (in the black area). Would that bother me ?
..... yes it would.
Would that bother other people ? No probably not, as the whole suit looks so great nobody will notice. Hell, if seeing that suit in person myself on a con, I wouldn't notice it either !
Would that bother you ? Only you can answer that.
(and yeah, I know, with a little more of afterwork, that seam should not have been visable there : it's perfectly possible to make that thing as smooth as a babies butt)
But if your current machine is on the way out for whatever reason, or you're looking for an additional one ? I -pure personally- would rather save sometime longer and go for a bigger one than buy a second, equal one.
But that's just my opinion. It's a 100% pure personal thing. Like, some people like driving BMW's. I think they're nice cars, but I can't bring myself spending that much money on a thing that basically performs the same basic function as a car costing way less.
For example, A Formbot will automatically pauze a print when it runs out of filament. It very nicely will put the printhead in park, and await you, the user, to change filament. No more "ohgoohgod why don't I do filament management on my spools" kind of stuff. Just print. No more "crap 20 meters here and 10 there and 30 there" spools. You just use them till they end.
That's just one of the nice things a Formbot has. Is that worth it ? Will it make your prints BETTER ? No.
Is it a cool feature to have ?
You betcha.
Laser engraver module add-on ? Needed ? No. Want ? YES.
TBI Ball Bearing/Zero Backlash ? Needed ? No. Does it make difference ? YES.
Programmable heatbed with dual zone structure. Needed ? No. Nice to have ? Certainly
Dual INDEPENDANT extruders ? Needed ? No. Totally cool to watch and use ? You have no idea.
The list is endless. And it boils down to what YOU want to spend your money on.
In terms of hobby use ? That's exactly the same thing. If you're asking for a rational answer to a question that is emotionally loaded (because I suspect we're all doing this because we LIKE to do it, not because we HAVE to do it), only the person him/herself can give the right answer.
Also, Look BEYOND your hobby. Sure, 1000USD, 2000USD or more spending on something JUST to make that "totally awesome Halo armor on" ? I couldn't bring myself doing that.
But as a TOOL that should give you way more different methods to experiment, work, learn, possibly EARN some money with ? Or even just to _make other people happy somehow_ ??
Oh, I think it should be considered.
Pretty sure there are worse ways to spend your money.