Its incredibly overrated as a vacation spot. Its fantastic if you are local I'm absolutely sure (except for the cost differential thing) since you are 15 mins away from so many fantastic environments and you have a ton of great daytrips but as a "let me fly somewhere" for a vacation kind of thing, its not even top 10 imo for tropical, beach, rainforest, etc.
Similar to Vegas though depending on what you want it can fulfill a lot of checklists in a short trip so from that perspective it can be hard to beat, especially if your vacation time is limited, its a lot of people, you can't travel that far, want to not travel internationally, etc.