You are correct. Gold is largely a waste of time especially if you are expecting to receive any benefits like room upgrades. Look at it this way, ahead of you in the queue are all the Platinums, Lifetime Platinums, Titaniums, Lifetime Titaniums, and Ambassadors to get a meaningful room upgrade. YMMV, but ain't going to happen.

OTOH, when you get to Platinum you will see an immediate difference in your experience and this is the level that being a member of Bonvoy becomes not a waste of time. If you travel only in the US then you may not experience much of a difference because from what I read on this forum the US hotels tend to be stringy on the delivery of the published benefits and the country is awash with Platinums or higher however if you travel in Asia and to a lesser extent Europe then you will see that Platinum guests do indeed get meaningful upgrades to suites, lounge access with free booze and food, proper breakfasts, late check-outs etc.

So, keep going to Platinum (or do a Platinum challenge) and then make up your mind. Gold is a waste of time.