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It's worth it.
Honey isn't that useful, it's just one of those "Why not?!" things.
Making mead isn't profitable at all.
Honey is an excellent money maker depending on the conditions; in Summer, Poppy honey is worth over 500gp every 4 days if you took Artisan for Farming Level 10; Fall is Fairy Rose honey at over 900gp each. And once you unlock Ginger Island, you can grow Fairy Rose year round.
Even early on, regular honey isn't a waste, because you can use it to make farm warp totems.
As for Kegs, it depends on what you put into it - Starfruit is best; Ancient Fruit is pretty good; both take 7 days to make. Hops and Wheat turn into Pale Ale & Beer a lot faster, but they aren't worth as much as the wine, although if you don't have a supply of starfruit/ancient fruit, they're not a bad choice, especially early on.
As for kegs, they have effects for different types of material you put in. x3 base price for fruits with 7 days process time, x2.25 base price for vegs with 4 days process time, and so on.
Generally, you would want to put the highest base price fruits into them, like Ancient Fruit or Star Fruit. For early game, hops are a good option since they take about 2 days to process and sell for 300g for a no-star grade and they regrow everyday, though you need a sufficient amount of kegs to process them since unprocessed hops worth only 25g.
Honey can be put into kegs to turn them into a mead which sells at fixed price at 200g. You'll actually lose money doing that unless it's wild honey or tulip honey.
Good, easy money and it looks nice too if you place stone walkways between the honey rows
kegs are great, kinda want to store then in a deluxe shed so they don''t take up too much space on your farm, but they'll triple the value of your fruit.\
if you treat 10 wood = 1 coal and 1 iron bar as 1 coal, then its 13 coal per bee house. its just jesus christ alot of coal.
I don't like crafting anything that uses coal early game because it is too valuable at that point of the game as my sole focus end of Spring 1 is on building as many 2nd level sprinklers as possible and then I switch to tree taps ready for kegs. Once your mass kegs are online it doesn't matter what you do with coal as you can buy all your ores, coal, stone and wood from the vendors so you can build whatever you like. I've never farmed those materials after Summer Yr 1
Trying to do bees AND kegs then, will likely result in you needing to either buy coal, or take the Forester (Lumberjack?) perk for 25% more wood and regularly load up charcoal kilns.