Sure, and maybe that mentality works for you, but I feel like a lot of people are more sensitive to differentials than actual quality-of-life.
For example, if I get a big raise at work, then that's great; I will probably be happy for awhile, and after that, I'll probably equalize to more or less the level of happiness I was before. Imagine that I then lose that raise, going back to the same salary that I started with. I would probably be pretty depressed over that, despite the fact that I wouldn't, in practice, be any worse than how I started.
I'm not saying it's rational, I'm just saying that's how I (and I think a lot of people) would react.
And if you keep that process in mind and maintain perspective, you can flatten both bursts of happiness and bouts of depression. Paradoxically, this might actually raise your settled level of happiness.