If all else were equal, it might be fine to pick something you like and just exploit the hell out of it till death. But I don't think all else is equal. Perspectives on the world, skills, knowledge, versatility, resilience -- an anti-caricature penalty on all this stuff seems good in a whole bunch of ways, even if I concede that you might be leaving some unexploited fun on the table.
Like I said, I am open to being argued out of this opinion; but that's where I am so far.
To counter the anti-caricature penalty, there's also the stereotype of the older person that never found something to anchor them in life. This stereotype of an older person never found a hobby, friends, community, or partners and travels from place to place constantly searching and consuming. Most people are probably in the middle and most people relative to themselves probably become more focused with age.
And, like you said, some people would be happy being totally captured by woodworking / European travel, and wouldn't see it as a problem. And maybe some people would be happy in the anchorless, 100% drifting way, although I personally am suspicious of that -- if you have to choose, being a caricature is probably better than being completely un-anchored.
In the beginning, you explore. Later, you exploit by doing more of the things you found fruitful.