Wheels are a wear item. For a long time, logitech G-series has had significant saturation in the TT leaderboards, GTA, etc. Prior to that, the driving force series wheels held similar status. Part of that is because of the market share that logitech once held, along with the reputation they earned. Part of that is also because they do work well. Some hardware can provide increase immersion, at increased expense and inconvenience(big weight/power wheels require hefty rigs which take up time/space/$$$,) however for the customisation that GT offers none are at a significant advantage in pace over any of the others. In fact, many of the big $$$ wheel owners often struggle to keep pace with their own times on a G-series, as a lot of the things that increase immersion can have the counter effect of making it more difficult to drive and/or repeat laps consistently. GTAcademy competitors who swapped to the T500 for the next year after the finals' surprise rig setup abandoned the expected logitech hardware were faced with the decision to compete in the prelims with a wheel that was giving up pace and consistency to the logitechs in exchange for more seat time and experience with the beast they would face in the finals. Casual drivers often choose between immersion/realism and ease of driving/raw pace. Of course, today is not several years ago and technology has changed. However, from my perspective the point stands; there are better(depending on how you define that word) wheels on the market, however you can purchase the 'value priced' G-series and at least be certain you're not giving up time to your competitors. You may give up some of that awesome feel, but you won't be slower. As a purist from a competition standpoint, if it doesn't make me any faster I find difficulty in justifying the cost.
Opinions may vary. Buy what you like.
tl/dr: Don't spend the extra money because you feel it may make you faster. Spend it if you want a more immersive, realistic, and enjoyable driving experience.