By "physically, psychologically, spiritually" it is meant that it orgasm is orgasm, with or without ejaculation. It is a transformation of energy which makes the positive awakening of consciousness impossible. Physical sensations are not the way we confirm if something is good or not -- yes, obviously some type of physical energy is conserved in this practice you are saying, but you are loosing the most important aspects, the finer energetic and spiritual values through orgasm. By keeping physical vitality but wasting the spiritual, energetic component, you actually are doing great harm. The loss of physical vitality in many ways prevents the individual from further wasting their energy because physically they are unable to, but through this practice the individual is able to continue to waste the energetic values and that is very bad. People, many many years ago, invented that practice in order to not give up the orgasm. They interpreted their teachings falsely by ignoring that sexual energy is not just the physical semen, but all of the hormones that are expelled during orgasm as well. Orgasm is biological, psychological and spiritual. Ejaculation is just the most physical component of it. This doctrine also ignores that women must also refrain from orgasm, as it is believed by many Taoists that women can orgasm all they want because they normally don't have that type of physically expulsion, and therefore it does not matter. Using the logic of many of the false Taoist teachings, either women have to do nothing to self-realize, or they are simply unable to self-realize, and this is completely wrong.