I have occasionally re-gifted an item that I would never use. I appreciate the thought (or sometimes just the effort because not a lot of thought seemed to be involved in the choice!!) of every gift I have received.
On the thought of 'sitting on a shelf for 20 years'--many years ago, my DH gave me a very expensive necklace that was absolutely not my style. I asked him if he minded if I returned it and chose something more appropriate. He said go ahead but I could tell that I had hurt his feelings deeply. I did return the necklace and chose another--which has never given me the pleasure that I know my DH felt, choosing to original. In hindsight, I should have kept the original even if I never wore it.