Is IRL dating events just another dating apps in disguise?

I've been looking into IRL dating events in London, but I’m baffled by the ticket prices - most charge £30-50 per event. If someone were to rely on these regularly, how many events would they realistically need to attend before finding a match? It seems like a lucrative business model, but is it really any better than online dating, or just another way to monetize singles? Have you tried these events, and if so, were they worth it?