When we use the word "materialistic" in (mostly) a negative sense, do we not refer to wasteful spending as opposed to meaningful spending? So, money spent on basic needs (food, shelter etc.) and the odd affordable treat would be meaningful because it's an investment into happiness. Money spend on lavish excesses that barely elevate you above the happiness level an expense of lower monetary value would do, is wastful and materialistic. Obviously, it's all subjective where to draw that line.
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True
This guy wins the thread.
I have managed to create a different view of it when relating to crypto.