*sigh*
Honesty, I have never understood this position that sexual gratification outside of a monogamous relationship some how prevents an individual from attaining higher meaning. As Rumby pointed out, that is such a Victorian point of view. There are people out there who find divinity through sex, and who feel that sexual exploration through a variety of partners is not only good, but should be encouraged. Sex is one of the most primal, natural acts that a human being can perform, something that reminds us that for all our intellect and self-awareness, were are still animals of flesh and blood, and that our bodies have a will of their own that transcends conscious thought. I have never viewed human nature as being purely monogamous. Sometimes people do find happiness in monogamy, and sometimes they find it in promiscuity. Who the hell is this Frankl to say one is right and the other is wrong? If it makes someone feel fulfilled, who is to say it is wrong for them?
As for masturbation, I highly doubt anyone believes that it is a substitute for sexual interaction with another human animal. It's just practice and fun, pure and simple. Excessively, it can be a distraction, but for most, it is just a way to pass the time and relieve sexual tension when a suitable partner is not around. This is nothing wrong with fapping off when your significant other is away, or as a "warm-up" between one one-night-stand and another. It's natural and it's part of who we are as beings of the flesh, so there is no need to feel guilty about it. The closer you are to your inner beast, the more happiness and contentedness you will find. Fighting against that animal within causes way more problems then simply giving into it every once and a while.