The de-materialization of AR could lead in the direction you’re discussing, but almost certainly won’t. The infrastructure is/will be developed by organizations that are explicitly a part of (and escalate) the material and status culture you deride. Some of these companies explicitly make their wealth based on advertising and will hardly give up those profit streams willingly when the shift to AR takes place. Most people are trapped playing other people’s games, but the shift to AR won’t solve that.