The Bloomberg Terminal (also known as Bloomberg Professional) is a finance professional's best friend. There are a few reasons I think it's worth the high price of admission; illustrated in this video.
Is it meant for home use? No! You simply do not NEED Bloomberg if you're trading/researching privately. It is a tool of convenience for professionals who need quick access to data and a large network of fellow professionals.
If you are interested in using a Bloomberg, many libraries across the U.S. have one or two you can use. Additionally, many business universities have open Bloomberg labs where you can create an account and get to using the platform! The Covid-19 pandemic may affect availability and access, so check in before you go!