Re: the edit (since that was me), I do think the luxury-consumption trap is qualitatively different, and one that applies to both experiences and stuff. Some of it does overlap with the general being-owned-by-things problem, which can be a problem at various levels of spending. But there's a different kind of paralysis that can come from "now I'm rich, I can do rich people stuff!". For some people that's great, but for other people it leads to them doing what they think $100m-net-worth people should be doing, whether that's yacht purchases or globe-hopping or $200/plate restaurants, even if they personally would be happier coding, starting businesses, or eating burgers.
At least, it doesn't seem too uncommon for people in tech who had successful exits to live a high-spending retire-in-luxury lifestyle for 2-3 years, then "burn out" on that in one way or another.
Perhaps this is related to having some sense of value just in the amount of money involved?
Many folks won't think twice of spending a hundred hours or more each year managing a property they rarely use because of the value of the property. Whereas if they spent that same amount of time worrying over something inexpensive? It would either be considered a hobby -- done exclusively for the experience -- or a sign of some sort of OCD.
I have been very fortunate in my life to have gone many times between having lots of extra cash and having to scrimp and save. I found it took several such cycles for me to finally "get it" For a long time, when I was flush I would buy things. A top-of-the line computer each year. A vehicle that I paid to have refurbished to my specifications. A large piece of land for an office. And so on. One day I woke up, looked around, and thought just what is the purpose of all of this? Owning things gave me a sense of security, and perhaps a sense of social collateral, but the trade-off just wasn't worth it. If you want security, it's better just to have cash in the bank. If you want to socially signal with your possessions, I'd advise making enough to first pay somebody else to manage all of it before you load up. Or better yet, just do long-term leasing and have maintenance and such be completely hands-off from your end. Assuming you have the money, the buying is the easy part.
At least, it doesn't seem too uncommon for people in tech who had successful exits to live a high-spending retire-in-luxury lifestyle for 2-3 years, then "burn out" on that in one way or another.