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Are there other merits than library we could invest in? It seems wasteful. On the one hand, I do want to pay my dues, but it feels like paying taxes, which I do with conviction, only to be disappointed again and again on how the money is spent.
I only feel it's wasteful if we pick a topic that we're not passionate about or interested in exploring. That said, there ARE a good amount of other options you can pick from.
Size, Security, and Library are all standard options for mage. Sanctum
Materials increases the overall durability and resilience of the physical structure of the Sanctum, and is the last of the Shareable merits (with some Mysterium-specific exceptions). The ones below are all things that require a sanctum.
Guardian Ghost, Guardian Spirit, and Guardian Retainer can provide extra layers of defense, though they won't be super-effective at low levels.
Alchemical Lab is really only useful if we have someone engaging in Awakened Alchemy (creation of perfected metals that can be used to craft items).
Sanctum Gauntlet increases or decreases the strength of the Gauntlet in the Sanctum, making it easier (or more difficult) to interact with Spirits in the Shadow.
There's a summoning circle merit if you wanna like, Summon Supernal beings, but I don't know about that.