I think you are addressing a great point. It is important to be efficient here and the end goal is happiness not the actual $ amount.
That said for me it seems to be good to have a goal and think about how to get there.
As an example financial freedom would create very much happiness. That would mean passive income of x per year. We can now think of how much overall investment or business income one must have to achieve such passive income.
Sure, 'happiness' might be the overall purpose. However, everybody would define that in a different way.
While some might be absolutely satisfied with a simple and basic life, not needing to enjoy any kind of material status, others would need these possessions to feel comfortable.
What is a 'passive income'? π Not working while the money comes in?