There are 2 classes of f2p games:
free2play, which sell game content in small units. Characters to use, classes and equipment to unlock, etc. and they also make it possible to gain all of those things in a reasonable manner by simply playing.
free2pay games intentionally abuse the human psyche and subtly push people towards buying things that are at the core consumable cheat codes, and which are not available reasonably through normal gameplay. (They also tune the difficulty curve so this becomes only visible after the player has invested a lot of time into the game.)