No, that's not really the right way to think about it. You earn 30,000 *W points on the *W Amex by spending $30,000. Similarly, you earn 100,000 MR points on the Gold card by spending $100,000. Big difference.

Of course, putting the credit card programs aside, the real question is -- how much in travel spending, either hotel or airfare does it take to earn (a) 30,000 *points, or (b) 100,000 airline miles? As a non-elite *W, you earn 2 *points for every eligible dollar spent, so that's $15,000 in hotel charges (plus taxes, so probably $18,000), before any bonuses. For airline miles, let's say you can get a NY-LA ticket for $250 r/t (probably best case scenario), that's 4,800 miles, or about $0.05 per mile. So for 100,000 miles, it'll cost roughly $5200. Obviously mileage/point bonuses (elite or otherwise) would reduce both these costs, but base out-of-pocket would still probably be meaningfully more to get the *points.
That's where the *W Amex comes in handy, it basically gives you a 50% bonus on your hotel spending, plus *points on all other spending. Generally, *points are hard to earn otherwise. No inbound transfers except the crappy MR conversion.

Bottom line, the math is never straightforward and it's always a complicated exercise. But it would seem you're generally better off earnings airline miles through airline programs, and *points through a combo of hotel stays and the *W Amex. But others will probably disagree.