I'm also not a huge fan of gift cards as logically, gift cards are cash with restrictions, which is worse than cash, and cash isn't a good gift, so by transitivity, gift cards aren't a good gift.
The only time I use gift cards are when it needs to be reimbursed as a business expense.
Personally as a gift receiver I much prefer receiving things that I couldn't have gotten myself, and preferably edible. Simple homemade desserts are great.
I used to think this way about gift cards but as I've gotten older I've had a bit of a change of heart - when I get cash (or a big shop gift card like Amazon) I often end up using it towards basic living expenses that I would have purchased anyway, like groceries or cleaning supplies (even though I'm not in a situation where that is strictly necessary). This is really no fun, and possibly the reason cash is considered a bad gift.
I think the sweet spot for a gift is something I would enjoy but would be unlikely to buy for myself (or in the case of experiences something I normally wouldn't do often), as you pretty much said. But a safe way to achieve this IMO is something like a gift card to a nice restaurant or a spa. Of course you still need to know your target though.
Kind of reminds me of the Netflix problem, the large pool of choices can make none of them seem particularly exciting.
I still prefer gift cards, because they entice people to use them on non-essential things. I'd throw a 50€ on top of the pile, but I'd use a 50€ gift card for something nice I wouldn't buy otherwise.
Cash is a great gift for everyone who isn't so rich that gifts are pointless. The war on cash is US corporate consumerism pushing people to waste money.
The only time I use gift cards are when it needs to be reimbursed as a business expense.
Personally as a gift receiver I much prefer receiving things that I couldn't have gotten myself, and preferably edible. Simple homemade desserts are great.