Yes, as a frugal LBYM'er, I did have pent-up demand. In 2003, when I saw my father on his deathbed with a feeding tube, I realized that I'd better enjoy life then, and not wait until I was fully retired. I was working way too hard up until then.
So, while already downshifting to working part-time and with my wife having a lot of vacation time (she was with her megacorp for 25+ years then), I said my goal was to have two foreign trips a year (2 weeks each), and two domestic trips (1 week each) a year. This, we kept up for about 3 years. Then, I decided that I wanted a 2nd home, and paid more for it than my main home.
I have slowed down now in my spending. Too much travel and it becomes a chore, unless I spring for 1st class, but I cringe at the cost of that. The 2nd home is still nice, but that takes time and money for maintenance, plus I started to get into RV'ing.
I thought I had enough "stuff", and that was even before I got sick and needed some long-term treatment. Now, I do not crave anything, though my portfolio is a lot higher than when I bought that 2nd home.
My son recently bought an Audi S4 with some fancy options that he was proud of, and when I looked at it, all I could see was another thing that had to be kept clean and pampered. Oh well, he's young, makes good money without any other financial obligation, so I told him that it's OK to enjoy a car when he still cares about it. We do not care that we drive older generic cars and people do not know that I get more joy out of looking at my 7-figure portfolio on Quicken each day.