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Probably, especially if it's low wages for everyone. It increases equality. They believe part of the reason people want more stuff is that their neighbors have more stuff. Low wages across the board would fix that.
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You're engaging with a variety of philosophies. Anti-consumerism can be monastic, or it can be minimalist, or environmentalist, etc. Each has a different ethical/rational basis for their decisions.
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Low wages, low consumerism only works in areas of low cost of living, or else no capital is saved away. It is also I'm afraid, indicative of low motivation, low status, and low to desirability in mate selection, thus high chance of degenerative health and contentmentover time.
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