The reason a materialistic view of the world is not good is not so much because it is a false view, but more because it is a partial view.  Like seeing the tip of an iceberg, it is hard to understand it's true size and importance if you are not aware of the major part that is hidden underwater.  Like the various versions of the well-known tale of the blind men and the elephant where the blind man holding the trunk thinks the elephant is much like a large snake, and the one holding a leg thinks an elephant is like a tree, and the one holding the tail thinks it is like a rope, and so on.  Their view of the elephant is not really false, just incomplete, which causes them to come to false conclusions.  
    The same is true of those who ignore the spiritual roots of the material universe and try to understand the material universe by itself.  It's kind of like trying to understand an abstract sculpture without knowing anything about the artist.  The material universe was generated from the spiritual universe and cannot exist without it.  While the material is a distorted image of the spiritual, they remain interrelated and the material cannot exist without the spiritual.