Very interesting point and all of a sudden a few things become very clear to me. I teach art one afternoon per week in a special needs school.. (sounds funny in this context).
Thing is, these kids are far less privileged than most others around here, some live in circumstances we'd actually describe as horrible. And although you can see, that they are often emotionally unstable, they are quite happy most of the time... It must be, that they "are busy" with covering the basic needs!
One time I asked them to paint their biggest wish. At first they all sat there and actually couldn't think of anything... I mean ask any teenager you know, what wishes they have..!
We worked hard on the subject and it turned out, that they first, don't take food, shelter and clothing) to safety/security needs (personal security, financial security, etc. for granted, like most of us do and in the end they were all dreaming of fulfilling their social needs! They wished for a family in order and friendship! Esteem needs self actualization needs didn't even exist for them...
Which leads me to believe, that dealing with those two levels doesn't necessarily bring more happiness like you say and can even be perceived as a struggle...