The house analogy isn't really working for me.. An almost same house gives 99% of all the important value, but a non-diamond ring isn't the same since it's still a pretty big mental and societal shift one has to deal with.

That does sound better, spending the saved money on 4x$2000 amazing trips together, or 2x$4000 SUPER trips. Priceless memories that would easily be higher value than a nice rock.