it means that they have seen and tasted this money but it didn't bring any happiness to their lives
My question is did they experience a life with a deprivation of money?? They undervalue all the comforts and bliss that are in their lives due to the presence of money, and so they aren't grateful about what they already have.
Money can afford us material things and those whose happiness depends on this material things would surely argue that money can buy happiness.
Is the ability to afford a medical treatment for ones child a material thing? Would we call someone materialistic who needs money for feeding his family?