Yeah, no, this is bullshit.

You can't just apply One Simple Rule like this ("more money is always better" / "more money never makes a difference"). There is, objectively, an amount of money above which another dollar, or another billion, will never make a meaningful difference in your overall lifestyle[0].

The amount isn't a single bright line, but like with so many things, there's an area below it where extra money unquestionably improves your quality of life, and an area above it where it unquestionably doesn't.

[0] unless "your lifestyle" involves manipulating major governments and controlling the way people the world over think, which I wouldn't consider a legitimate part of "lifestyle"