I'm not sure if you lived in a Soviet country during these times, but I think you will get MANY opinions that this was not working well.
- military and space tech was mostly on par (a bunch conflicts, incl. Vietnam, show that)
- economically, the USSR was stable
- people were not starving
Of course, the was less luxury and consumerism, but that was true for a lot of other countries as well in Western Europe. It started to fall behind latest by the early 80s on all metrics.
And for Soviet leadership, personal luxuries for the people were simply no priority. And there is no question which system "won" this conflict, is there?
So the question is, was communism actually working well in that period, or was it more or less an unsustainable fluke due to the post-war boom era, and as soon as that ended it got left in the dust?
Worth pointing out, Germany outpaced the European allied nations economically pretty quickly, as did Japan.
Being competitive for decades, and the most part of the Cold War, surely is no fluke. In the end, capitalism won out, no doubt about it. Also worth pointing out, capitalism does not lead to freedom, China is a very good example of that.
By the way China, they became the economic power house in the early 2000s. Is the Chinese system a fluke?
And anyway, they had no freedom, which is the real issue. Communist governance is fundamentally opposed to liberty; the system can't allow it.
And before someone says Venezuela or North Korea, the former is a deeply corrupt cleptocracy while the latter used to be the last stone-age version of Stalinism before the whole nation was turned into an open air concentration camp by its dictator.