Is $200/month a lot of money when you can multiply your productivity? It depends but the most valuable currency in life is time. For some, spending thousands a month would be worth it.
Equity is a lottery ticket. Is sacrificing my happiness or life balance in the near term worth the gamble that A) my company will be successful, and B) that my equity won’t have been diluted to worthlessness by the time that happens? At higher levels of seniority/importamce/influence this might make sense, but for most people I seriously doubt it does, especially early in their careers.