Money is just a useful abstraction to get economic exchange to happen more easily. So long as the money supply is vaguely in line with the demand for real goods and services the details don’t matter too much.
As long as the government can keep spending more every year, everyone is happy. This will apparently work forever. Best not to ask questions about how this affects the poor that don't have inflation hedges such as real estate or stocks.
The poor can easily get those things as well, especially with apps like robinhood that make buying stocks easier than ever. Also you have cryptocurrencies now that can basically be purchased in seconds.
Just to clarify: by "material basis" I dont mean "intrinisic" but rather "representational" like how when money was first invented, 1 unit of money represented 1 unit of material wealth (i.e. one cow)