If I am interested in building a niche website, and have plenty of content ideas for it, by buying an already established website, I could take 6-8 months off of the time it takes to see results.
If you want to write a bunch of great content to add to the site, you are free to do that. Want to hire a writer to publish a bunch of content? You can do that too.
The valuation for websites has gone up. This is a trend that will likely continue. If you can improve the website, you can improve it’s income producing potential.
The operations of websites have more moving parts than some other assets like real estate. Though they are much less complicated than many businesses that people buy stock in.