It depends on where you live and the kind of roads. If you are often on two-lane twisty roads like much of the east coast US or even UK, then a small low-power sports car is a ton of fun and makes it more fun to go on errands. When I had a Miata, it made me happy every time I drove it. It has sporty dynamics (including an amazing gearbox, suspension, and weight balance), looks cool, and the roof comes off. And at the end of the day it's literally a Mazda 3 in terms of the hardware, fuel efficiency, and maintenance costs.

But yea... I wouldn't buy an R8 just to be blueballed hitting illegal speeds in 2nd gear.