Correct. Almost everyone in the comments here saying that the costco membership is worth it on a financial basis is deluding themselves. Unless you are buying for some kind of organization or you have a Mormon-sized family, CostCo is costing you money - that's how they make money.

The reality is, what CostCo actually sells is a Premium Experience. You walk in the door, and you don't have the experience of feeling bad about buying store-brand junk food that is far cheaper than name brand, because costco only stocks name brand (Or Kirkland, which is comparable). The shopping carts are enourmous, and you get a thrill when you purchase 20lbs of organic, grass-fed steak like it is a normal thing. A nice old lady offers you a free sample of something. You get to treat yourself to a slice of pizza or a hot dog on the way out. And most importantly.... everyone else also paid for a CostCo card for the right to be in the store. Ie, the biggest benefit to CostCo is that you don't have to be in the presence of poor people.