I second this. A 100 dollar bill just gets saved in my safe. However, if I'm given something like an Amazon gift card, I have zero reason to not spend it.
Granted, the things I would want are very particular and normally on the expensive side, so I would rather have people give me a bit of money to go towards said things.
The point he's failing to understand is that all of these "useless" innovations are a part of what is pushing the edge of technological innovation. Sure, while the direct goal of each one is often entertainment, indirectly they all push the limits of a technology.