Concur. There's no reason we can't establish a "subsistence floor", below which all critical needs are met. That doesn't prevent humans from seeking recognition, status, and exclusivity in other areas.
I think we've actually been heading this way for a while through technological inertia. As said above, being poor today is quite different than 100 years ago. At some point, poor will mean all your critical needs are met, but you lack the skills or desire to seek higher status. When that happens for everyone in the world, rather than appreciate how remarkable that is, we'll probably complain in the moment that it's unfair or still doesn't go far enough.