I wouldn't choose solely based on toiletries but if location, cost, and quality of the property aren't issues (and I can see why they wouldn't be in NY, where different brands cover some very different properties) then sure.
Of course the Waldorf rates would have to be exceptional to make it work and I'd personally find it difficult to justify the Waldorf over others (although I once booked the Sheraton on Park Lane for less than the Ibis my corporate travel suggested...)