While I understand the appeal of mechanical simplicity, your concerns about electronic groupsets' reliability and constant need for updates are overblown. Yes, there may be occasional glitches and compatibility issues, but these are typically resolved quickly with firmware updates. Moreover, electronic groupsets offer significant benefits, such as precise and consistent shifting, that mechanical groupsets simply cannot match.
The "real cost" of electronic groupsets' upgrade cycle is subjective and depends on individual priorities. If one values staying up-to-date with the latest technology and having access to the best performing components, then the cost is justified. However, if one is content with an older, less advanced groupset, then there is no need to upgrade. Ultimately, the decision to upgrade should be based on personal preference and not on a perceived obligation to keep up with the latest trends.
To suggest that electronic groupsets are fueling an "endless pursuit of novelty and obsolescence" is simplistic and unfair. While it is true that electronic groupsets' technology is constantly evolving, this is true of all technology, not just cycling components. To label any pursuit of innovation as a "pursuit of novelty and obsolescence" is narrow-minded and dismissive of the real benefits that innovation can bring.
In summary, while electronic groupsets may have some drawbacks, they offer significant benefits that mechanical groupsets cannot match. The decision to upgrade should be based on personal preference and not on unfounded concerns about reliability, simplicity, or cost.