Is jewelry a waste of money?

Most retail jewellery yes.
I worked with a former Jeweller some years ago who told me up to about 70% of retail price is probably hiked compared to what the item cost to make.

I don't wear much jewelry besides a few rings and earrings so other than that yeah maybe. :)

If the money can be better spent elsewhere, then yes.

Other than a watch, yes.

In my view it is

Yessss

No

Yes.

I mean, if it makes you happy, then why not, you know?
The only case in which I think it would be a waste is if you're using it to flaunt wealth or status.

Diamonds most certainly are.

But yeah , most jewelry is pretty much only worth melt once you buy it so complete waste.