One big difference is that physical things exact an on-going tax since you have to store them in your house and maintain them. Hence the "does it spark joy?" question.
That said, the up-side is that physical goods can provide on-going benefit. For example, I love my AirPods Pro - they bring me joy every day.
My expensive vacations still feel like too much money spent for too little return.
The parts I loved-- meeting old friends, and spending time with own family outside daily routine -- could have been achieved much more frugally and in a relaxed manner without the pressure of making the vacation pay for itself (e.g. limit the duration because hotels are expensive and rush through things).
Obviously this is a very subjective experience and also varies based on how wisely we plan out vacations and spend versus our means and mindset.