Sure everybody can be addicted to some crappy social service on their phones, but that's not a mark of progress in 2025 nor definition of life fulfillment/happiness, some would say in contrary. Obesity was also for a long time mark of wealth (and in some 3rd world countries it still is), and now its a sign of low social status and failure for various reasons.
Btw life expectancy i starting to decline again in developed countries, its just 3rd world that has so much gap to cross that they still go up.
Of course historically this does seem to be a cycle. Usually it goes gilded age, revolution, broad-based growth, emergence of a new elite, repeat cycle. Unfortunately the revolution period is often very chaotic and destructive.
The nice things from (A) don't necessarily require what co-occurred with (B). There is nothing in the physics or materials of a refrigerator which requires the assembler to have been paid less than the CEO.
To be fair I think there's a lot of truth in your statement in the short term (and arguably in the long). But in the 'long' term , it sure does look like revolutionary technology makes everyday peoples life better (I didn't even go into transportation or health care/life expectency)