It all depends on what you're looking for. I've put hundreds of hours into games and gotten way less than $1/hr, and I've also had a great experience paying significantly more.

So I don't see games in terms of $/hr, especially these days when I'm more limited by time than money. Instead, I look for unique experiences with cost being a much lower factor. Generally speaking, I spend much less than $1/hr since I buy a lot of older games, but I've spent far more ($5-10/hr) on particularly interesting games.

But yeah, generally speaking, I'm willing to pay more for indies than AAA titles because indie games are more likely to offer that unique experience.