I am semi-f2p. I have spent a few dollars here and there. In the 2-1/2years I’ve been playing it amounts to about 1.50/month. Fully 1/4 of that was the first Valor Pass. Don’t ask why, I brain farted. Most of the rest was the cheap VIP deals (3x) and the gem gift your alliance deals. I am now at the point where a second builder doesn’t help me as much.
My defense sits at 4360, I tend to spread out my emblems and have quite a few 4* +20. I am typically in the top 3 for war score in my alliance (we are casual) without being top 3 for heroes. I have every TC20 5* except Magni, many duplicates (four Richard!). Beyond that I have four non-TC20 5*, two of them quite old and not spectacular HOTM’s (Aeron and Gregorion). I have reached 2749 in cups. I don’t aim for the top and I don’t expect to get there. Managed expectations lets me still enjoy the game for what it is.
There are other f2p players who have built up incredible rosters and made #1 overall.