The values of wealth accumulation and materialism are not at all limited to or even expressed mostly strongly by the Baby Boomer generation.
The line of thinking that capitalism dies with boomers or that Gen X, Millennials, Gen Z, or whatever comes next will not fully embrace capitalism and will move towards socialism or some other non-competitive society seems pretty naive.
Humans are a competitive species. Most people want to win. I doubt this mindset dies with boomers.