Presidents do get 'real' vacations in that the time is blocked for recreation, and rarely interrupted from that purpose.
They do not get 'real' vacations in the sense that they are on hair trigger if there's a crisis, and will spend time each day on essential activities, e.g., briefings.
A President on a vacation day is getting a lot less done than a President not on a vacation day; it's not a non-issue where it's the same either way.
Take a look at a President's calendar sometime for an example why there's a difference, as his day is filled with meetings from morning to night.
The story above noted Bush had 120 vacation days *at this time in his presidency* to Obama's 65, 9/11 notwithstanding. Bush was reportedly setting records for vacationing.
It's not the biggest issue, but it was an issue how much Bush let others run things, including Cheney, and the bad policies he allowed.
Bush was a sort of figurehead president from the start - it's his background as well, riding the family name to small companies that didn't go well and were bailed out by friends including Saudis, director at Harken where he was said to do little more than tell jokes (and use insider info to violate the law on selling stock), as the baseball co-owner whose only role was to shake hands and greet fans, as governor of Texas where the office is considered among the weakest in the nation and mostly ceremonial.
As nominee, he had briefings to get him at all familiar with the national issues, as he reportedly had not been outside the US except party border crossings to Mexico.
He reportedly considered himself 'CEO president' as more hands-off.
This shifted, though, in the later presidency when he took some more hands-on, and the roles of his people like Cheney and Rove were reduced (with Rumsfeld out).