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I agree, and acknowledge it is a naive and simplistic question.
It is and it isn't.
Why does someone want an insanely fast BMW that they'll get upset about receiving the inevitable supermarket scratches, which isn't very comfortable or practical and they can only ever use it's potential in the overtaking lane of a motorway slip ramp entrance for a second or two?
I mean let's be real here. It's is nothing but marketing that makes someone buy an M3.
Let's run with another thought experiment; What if that marketing was given to say, status massages? How would that change the environmental impact of consumerism? OK it wouldn't change the global inequity, but it's just an initial random e.g. of how if you shifted society to experience spending over buying useless shit.
There are options to how we drive consumerism.
Not sure that’s possible- you’d be asking people in the first world to fundamentally change their lives for the benefit of people in the developing world, and the people in the developing world would like what the current first world have.