Becker is definitely not a waste of money. If you're not going to put the materials to proper use, then YOU are wasting money. That being said, there are other ways to pass the exam, in my somewhat uninformed opinion (see below).
I chose Becker pretty much solely because my company was paying for it, and my boss (who is a CPA and took Becker himself way back in the day) told me to pick whatever program I wanted. I had done some research into other programs, and I just thought Becker was the most comprehensive, but I wouldn't have picked it had I been paying for it myself, even at 1/2 off. I probably would've bought the Ninja 10-point combo and the Wiley test bank and called it a day. And I ultimately did buy the Ninja 10-point combo, as well, because I didn't want to leave anything to chance.
I have only taken one section (FAR) and haven't gotten my score back yet, but I can say that the exam experience was not nearly as bad for me as people make it out to be. I didn't leave the testing center feeling numb or overwhelmed. I didn't see any MCQs or SIMS on the exam that completely blew my mind (although there was 1 SIM that was on a topic I had not seen in SIM format in either Becker or Ninja systems, so I didn't really know how to approach it). Maybe I got lucky with the questions (or maybe I failed miserably and am so clueless about the material that I don't even realize it). But I think the depth of the Becker material had a lot to do with me having a relatively positive exam experience.
But I will add that now that Ninja comes with textbooks that go into more depth, I think the 10-point combo is a really great buy. I have seen MANY of the Ninja MCQs in the Becker software (verbatim), so I know from personal experience that the quality there is the same. The audio provides a way to study when you're on the go. The notes and Blitz provide a great high-level summary. Plus, you get free updates until you pass the exam. If you're not sure self-study is for you, I think this is a better way to go than Becker for the time being. Leave Becker as the last resort. I am glad to have both, but I'm very fortunate to have someone else paying for Becker.