CapnZapp
Legend
I'm not sure we have any common ground to base a discussion on, thenWas it a significant part of 3e? I skipped that edition so I don't really know. How was it significant? What impact did it have on play?
Personally I stopped giving out treasures hoards back in our 1e/D&D days in the 80's. We didn't really track treasure in 4e or now in 5e. It has never been a significant or interesting feature of the games I have been a part of.

If you're interested in a historical overview of all the faults of the 3E implementation of magic items, I'm sure somebody else is about to give it to you. Just remember that I'm not literally asking for 3.x to be back - only the idea of converting all that otherwise-useless cash into useful gear for those not interested in castles.
And be sure to tell them none of this means I want to take their castles away.
Just that the argument "you can always build a castle" is not a valid excuse for not providing both up- and downtime alternatives to how to spend gold!