Quite the opposite in fact. Microtransactions offer the promise of fun, but never deliver, because in order to incentivise users to purchase them, the player must feel like the game is 90% of the way to being fun and that tiny additional purchase will get it there.

It's like the cartoon image of the donkey rider holding a carrot on the end of a rod. The donkey keeps moving to try to get the carrot, but never quite reaches it.