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From a psychoanalytic point of view, consumption and demonstrativeness should cause envy and a sense of injustice (for those who are not included in the”golden billion”. And then the next stage is a war to a) punish consumers and b) gain access to benefits. The war will also consist in devaluing goods-for the sake of any other ideology. But here's what will remain after the war… it will depend on who survives.
“Demonstrative consumption” is not an epoch, it is characteristic of many representatives of humanity throughout its history, and there are no prerequisites for the situation to ever change.
As long as there is a possibility of inequality, as long as there is a need to be better than others, many people will use all the means available to them in order, if not to be, then at least to appear better than others.
And yet, is it possible to imagine that humanity will massively abandon show-offs? Yes, if the main reason for competition within the species – the need for reproduction-disappears. It's hard to imagine such a situation, of course. Unless humanity gains immortality in virtual reality. But even then, there will still be a culture in which behavioral patterns based on inequality between people are embedded.
In general, people will have to lose a fair share of the humanity we are used to in order to pick up such a powerful piece of the foundation of society as demonstrative consumption.