You guys realize that you're just trying to find rationalizations for your hobby/addiction/whatever you want to call it?
S5 at launch IIRC had a 200-day ROI at $0.10/kWh with a 2% diff growth. It managed to achieve and even exceed that because difficulty stagnated during most of 2015.
S9 now has a ~300-400-day ROI (depending on the batch) at $0.10/kWh with a 2% diff growth. So you are basically hoping that a similar scenario will happen again (bitcoin price crash, slow diff growth) and will last even longer.
Edit: actually it's ~500 days for batch 9. Insane.
But then some here are trying to say that Bitcoin price rise would somehow help ROI... it wouldn't. Higher price will inevitably cause diff to rise and the S9 will mine fewer bitcoins. You don't want the Bitcoin price to rise while you're mining. You want the price to rise when you're hoarding a stash of coins and not giving them to Bitmain. Once you've given them to Bitmain you want the Bitcoin price to drop.
There is also a chance someone bought with fiat. So that could be a different ROI schedule that could happen much faster, depending on what BTC does in value. And yes there is a argument someone could have just put that fiat money in straight BTC I do see that option to. But that is a different conversation then hardware. Also the other optimistic view is maybe some old gear come's offline and we might lose some old hashrate.
Those are two thing's I can think of that an optimistic type might say. I do consider it part hobby and part investment to be honest. I love it that has kept me in the mining game, I just enjoy it chances are always will. I think most still doing it enjoy it as I think you really have to to keep mining long term.