Sure, but simply ignoring the time in between where alcohol effectively does deliver a great time, and which is for many people the addictive aspect of it, isn't exactly easy. Or at least not quite as easy as downplaying the hangover and regrets, as addicts often do.
And since your core advice is basically not to misjudge, it's extra weird to me to leave out parts. At least in my opinion you should look at the whole issue. But then judge by assigning value to it: is the great time really great, or is it just you hanging in a chair, head spinning and almost too drunk to be able to make conversation? Is it really great, or is it just you so drunk you sometimes fall over while dancing? Was it really a great time coming up with philosophical insights into mankind, or was it all just bullshit?
Going to the gym promises hardship and struggle. It delivers health. I've never once regretted it.
This suffers from the same issue, but the other way around. Sports can result in blessures, especially the more extreme ones. You shouldn't imo just ignore that. Instead be honest to yourself and call it what it is: it's addictive, it makes you feel great, it delivers health, and all of that is enough to make the occasional (depending on what you do) pain (physical, but also mental i.e. getting depressed because not able to work out) worth it.