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).
A waffle is a dish made from leavened batter or dough that is cooked between two plates that are patterned to give a characteristic size, shape, and surface impression. There are many variations based on the type of waffle iron and recipe used. Waffles are eaten throughout the world, particularly in Belgium, which has over a dozen regional varieties. Waffles may be made fresh or simply heated after having been commercially precooked and frozen.