It is sometimes difficult to justify single-use appliances, and not just due to the cost. The space that the appliance takes up, whether in a cupboard or on a counter, is space that cannot be used for other multi-function appliances, as a prep area, or for anything else you may want to do in the kitchen. Products that make an effort to be compact, or at least efficient with the space they take up, always have an advantage over those that do not (all else being equal).
Earliest of the 16th century waffle recipes, Om ghode waffellen te backen – from the Dutch KANTL 15 manuscript (ca. 1500–1560) – is only the second known waffle recipe after the four variants described in Le Ménagier de Paris. For the first time, partial measurements were given, sugar was used, and spices were added directly to the batter: Take grated white bread. Take with that the yolk of an egg and a spoonful of pot sugar or powdered sugar. Take with that half water and half wine, and ginger and cinnamon.