I don't think so - I think he likely envisions the working class as poor and therefore not as interested in racial, gender, or sexuality inequality as much as where money comes from. I suspect he means luxury beliefs in the same sort of way Maslow structured the hierarchy of needs. I don't follow your argument here - if someone is poor and they cannot feed their children, or stop their house being repossessed, they will likely unable to think about anything else.

If they become rich they MIGHT consider the wider implications - they also might not. It depends how much or how little they centre identity.