We don't enjoy fancy all-inclusive resorts, especially on islands. Limited options, gets really boring after a few days. And yes, the food is always rather mediocre. This is the same reason I avoid cruises.
But we'll splurge on an expensive hotel if it offers something unique that we value. DW and I have stayed several times in suites at the top of the Ahwahnee in the Yosemite Valley with massive views of Half Dome and Glacier Point. This is usually in the fall, so less busy and cooler. Hike during the day, enjoy drinks by the fire in the Great Lounge, then get dressed up for dinner in the Dining Room (I love that there's a dress code).
When we did a road trip with the kids through the southwest we made a point to make sunset dinner reservations at the Grand Canyon North Rim Lodge Dining Room. We were camping, so we found some pay showers and got cleaned up. The food was okay but the views were spectacular, a very special and memorable experience.
We haven't stayed at Old Faithful Inn, but that would totally be our jam. I guess I have a soft spot for the old grand lodges.