Wilde's usage suggests that only after personal needs can be understood and expressed can a broader scale of social change happen. While Wilde's discourse here seems a bit naive for our times he is usually on the mark. Nobody will waste his life in accumulating things and the symbols of things. One will live. To live in the rarest thing in the world.
Most people exist.
The proper aim is to try and re-construct society on such a basis that poverty will be impossible. Under Socialism doesn't get quoted much these days. The sexual implications of Wilde's artistic and socialistic theories are also clear. Sexual freedom then would in part exist when heterosexual activity is not linked to reproduction. Wilde extolls the value of pleasure over simple usefulness and the importance of the individual action and impulse over the needs of society.