The short answer is, "Yes."
The long answer is a lot more complicated, but, in short, we have definitely short-changed ourselves. I read the writings of the Church Fathers and à Kempis and see that they wrestled with things. Really wrestled with how to become holy. I might not agree with their techniques, but I agree with their heart motives.
We've lost that. We have surrendered to the quick-fix that society offers. But we've lost true intimacy with God. True "striving after holiness." Lord, deliver us! Open our eyes to where we've sold you and ourselves short!