I'd far rather be able to really focus on work, really getting stuff done, not have to deal with coworkers all being on vacation, saving hard for retirement or whatever, and then every couple years, go off and do something completely different (paid or unpaid).
And I'm certainly not saying this from a "this proves American workers are the most hardworking" junk attitude. I simply find life more enjoyable this way.
Then, that's my young, single self talking. Perhaps with a family moderation is more important.
EDIT: People are misunderstanding my post, assuming I mean I don't do anything but work. On the contrary I've been to 30+ countries, lived in 5, biked across Asia, spent a year teaching English in Korea. This is difficult with just "vacation time". PLUS this style allows me to be really focused on / interested in my work when I'm in that phase of life.