It also creates a ton of e-waste for a few hours of entertainment when you already have the compute power available to you in another portable device you already have to own anyway.
Just about everything creates waste. Being into any hobby is expending energy in pursuit of leisure. You're opting into excess from the jump.
Then again I'm not buying the latest games or consoles, I've got some other ones that I dive into every now and then for a distraction.