Agree with OP, but the saying is actually twisted and then mentioned (over-hyped) over and over, again and again so that the actual saying and its meaning, IMHO, is forgotten...
IMO, it should be
"The over-greed of accumulating money doesn't bring happiness".
Reasons:
Over-greed makes the person and his thoughts corrupt with wrong ideas by which (s)he may hurt a lot of people needlessly and make them all very unhappy in the process.
Accumulating loads of money without using it properly for self- and family-needs at least, will keep the person and his family stay unhappy. Of course if not used correctly, it will also not be useful to the society.
Making loads of money by consistent cheating / killing / bad ruling / tyranny , etc.: Someday/sometime it's surely going to bring extreme "bad luck"... think about what, as a 'bad karma', it can do to the children, wife, relations, self, property, ...
The results of bad karma materializes in due course, but the actual unhappiness / great grief comes over when the person's mind accepts the facts that he/she has erred very badly in life. But by then, too much is lost (apart from money) and that can't be recovered or replaced...
And no, not smoking weed or drinking booze or am out of my mind...
