Is the hobby doing the 3D printing or what is printed?
Is the hobby using the table saw or the cherry cabinette?
Is the hobby casting the silver or showing off the silver ring?
Is the hobby building the radio station or logging the contacts made?
Is the hobby building the model tain layout or running the trains?
Is the hobby building the aircraft or flying it to Oshkosh?
Is the hobby playing the game or the score at the end.
The answer to all is yes. There is no right or wrong answers.
But for me, it's mostly the DOING that's the hobby with the end result being the evidence of the effort. It's why I wrote the questions in the way shown.
Purchasing and Collecting painted figurines is definately a hobby.
Making painted figurines from scratch and collecting, displaying, or selling them is the crafters definition of hobby.
Not everyone is a maker or a craftsperson. Most hobbies do not have firm rules like sports. A hobby is anything someone does simply because they enjoy doing it. The process and rewards are as varied and personal as the hobbyist desires.