Happy Juneteenth!

If you're talking about the Roman Republic, then no, it broke down over the inability to deal with the massive expansion of its borders, the wealth iniquity that generated, the amount of power that wealth was able to exert in politics, the replacement of much of the labor force with slaves that meant most of the Romans themselves were sinking into poverty, and the amount of political violence the people who represented the wealth were willing to use against the Romans themselves until the people started empowering dictators. But the Roman Empire continued for centuries after.

If you're talking about the Crisis of the 3rd Century, then maybe for a little bit but I think you're misunderstanding the problem of overindulging a small segment of people in the capitol, because the problem wasn't the indulgence, it was the wanton corruption of Praetorian Guards buying a fake legitimacy for themselves at the same time they had a military system that wasn't beholden to the government, meaning any troop could raise their general to emperor and decide to, you know, break away Britain and France for a few generations. And anyway the Diocletian Reforms allowed the Roman Empire to continue for centuries after.

If you're talking about the Western Roman Empire, then no, it broke down over the inability to deal with pressures on its borders using its ad hoc system of creating a military class with little connection to the capitol and the same time there was a breakdown in the performance of civic duties of the diminishing landholding class who were in the process of turning into something closer to medieval knights with castles and serfs than Roman aristocrats with patrons, creating a cycle of civil wars that made the empire too brittle and too hateful of outsiders to deal with the problems they created for themselves with border "barbarians." But the far more populous and important Eastern Roman Empire continued for centuries after.

If you're talking about the Byzantine Empire, then it was the Turks.

I don't know who's telling you Rome fell because they had too many holidays but they probably should not be listened to about, well, anything. The vast consensus among centuries of Roman historians is the Roman Empire went through many iterations, with periods of stability after massive reforms and long periods of instability when it seemed like the whole thing would break down and somehow only broke down in certain ways or parts.