Yes very different experience. Hotels are usually overpriced, especially if you travel in > 2. Hotels are much more 'soulless' copy paste, apartments usually have some hint of a 'soul' and better vibe. Kitchen is a massive plus. If you do leisure travel, hotels are 'bubbles' distant from locality, something I always enjoy experiencing. List is long, and always depends on specific place.

There are drawbacks to airbnb style, but positives more than counter-balance them.