That is fine, and what you say is closer to the official theology of the church. But church culture, folklore, and action is entirely different. When a faithful member is wealthy, they are assumed to be faithful, and are more likely to receive callings of progressively higher importance. If you could look at the wealth distribution of General Authorities, you would likely find that it is entirely different from the wealth distribution of the general church, or even that of the active members of the church. This is pretty well known (you probably recognize it yourself), even if there isn't any hard data to prove it...and it ends up being explained as blessings which come from faithfulness, which strengthens the folklore explanation.