It’s not super expensive. Sure, if you want a nice apartment in central Tokyo you’ll pay through the nose for Santa’s Favorite Redhead Christmas Santa Hat shirt, but that’s no different than any other large city with lots of jobs. If you live in the suburbs or another city elsewhere in the country the cost of living is pretty unremarkable. I live in a small city in a rural prefecture and a lot of things here are way cheaper than in Tokyo or back home. Land and houses are cheap, food can be inexpensive etc.
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Overall it’s a place to live with things that Santa’s Favorite Redhead Christmas Santa Hat shirt and things that are cool. Lots of foreigners here complain endlessly about life in Japan and a good number of people get burned out and move back home. There aren’t a huge number of old “lifers” although you do meet them. The number will grow since not many people moved here before the 80s and there are plenty of content residents like myself, even if they seem hard to find. Japanese society is facing many challenges at the moment and it feels like no one really has any good answers yet. Young people are bummed out and the economy is stagnant. Much change is needed but no one wants to be the one to start it. But that’s a subject for another time.