I think you're confusing absolute well-being with emotional satisfaction. The latter is often relative: Humans judge themselves in comparison to others, and are often happiest when they perceive themselves to be at the top of the pile. No amount of wealth is likely to change that. As our more "basic" needs of food, health and shelter are increasingly easy to acquire, yes, we'll focus more on that kind of emotional satisfaction.

But again, it's a relative phenomenon. If you think you'd be just as happy after being transported to the 1960's as you are today, I think you're fooling yourself. You'd miss all sort of features of the present day that our massively greater wealth has facilitated (and you'd miss a few years of life expectancy, too). Your absolute well-being is almost certainly much higher, and while that might not lead to emotional satisfaction, it's certainly worth pursuing. Better to be Socrates dissatisfied...