Of course there is some truth in here. But the sheer majority is missing the forest for the trees.
Luxury beliefs are certainly products of wealth - it requires a level of wealth to declare something is wrong rather than pragmatically keeping your head down and going with the flow. As our society becomes more wealthy, these beliefs gain mindshare and become widely accepted - democracy, natural rights, freedom from religion, worker protections, etc.
These things are products of wealth, a type of wealth in their own right, and we should be greatful that our society has become wealthy enough to declare that they should be universal. The author kind of references this at the very end, but then steers right back into the regressive fundamentalism as his closing conclusion.
Looking forward, many visions of progress are somewhat wrong, misguided, or at the very least overstated. Remember when we were all going to be living in Buckyballs? Which is why you have to kind of hold your nose to wade through much of the blue tribe groupthink. But the answer isn't to conclude the entire idea of progress is fallacious and dopamine-pine for the glory days of hard work that are comfortably in the past. Rather, it's to discuss and critique the forward-looking ideas on their own merits, despite the neo-clergy and other politickers that will attack you for it.