But as someone also who has never smoked pot or been that interested in it - is it anything like that at all? Or is the experience pretty generic (other than the obvious quality differences)?
It’s like the difference between Highland Park, Dewars and $10 crap scotch but also the difference between Kahlua, Tanqueray and Limoncello - and also the quality and brand variances within a style. The dozens of varieties of herb and extract you see at the store do all separately exist for good reasons. The expensive extracts are clearly a more delicate product than the cheap ones, and among a certain brand there maybe be several very distinct (natural, botanical) flavors available.
I tend to keep a variety on hand - a lemony sativa extract like Super Lemon Haze or Jack Herer, a skunky/gassy hybrid like Sour Diesel, a bright Sativa like Columbian or Panamanian, and a heavy indica like Grape Skunk or whatever smells good (strain names can be standard or per-store) in addition to something with CBD and maybe CBN (medicinal cannabinoids). Selection for me is very flavor dependent, but also for the effects, which vary widely within a range and are harder to predict by aroma and appearance.
However, legalization has also generally lowered prices, and it may be that we have not seen the end of that trend. Some have suggested that cannabis should naturally be only a few dollars per pound. However, I don't think that prices are ever likely to reach that point, and the question for the public I think is whether that disparity should result in high profits or high tax revenues.