I hesitated to reply because it will seem as though I’m putting Mykonos down - and I’m not. It was one of the very first islands that I visited in 1974 and I have some beautiful photos of the traditional Cycladic way of life (like these gorgeous windmills) and some incredible memories that prompted me to return to Greece year after year!
The one question you have to ask yourself is what kind of vacation are you seeking? Are you looking for upscale accommodation, days spent on the beach, and celebrity-worthy party nightlife - or - something more laid-back; traditional; with more possibilities for activities such as hiking, historical sites, exploration, and the chance to interact with local people? Once you decide this, you will know if Mykonos and the expense is worth it to you. Santorini is also very popular, expensive, and has probably the most surprising and stunning scenery (outside perhaps of the Monasteries of Meteora) of all of Greece. Nonetheless, ALL locations in Greece have their own unique beauty; you really can’t go wrong. It mostly depends on what you’d like to do. I hope that this helps.