This is awesome and quite enlightening! Hurray!
Creating an imaginary distinction between utility and truth goes against everything I believe in. The fact is, information has no utility if there is no truth to it. A more accurate distinction would be between truth that is useful and truth that is not. Other than that, this man is simply stating what is obvious: our senses are not 100% objective. I like to think that most people are already aware of this and adapt their modes of thinking to compensate for it the best they can.
I would suggest that his major point is more along the lines of
well, objectivity is extremely complex and we are experiencing it in certain ways that are useful for us than
our senses are faulty, however. The whole notion of a mind/body or mind/world division is outdated; we're not just passive observers who sometimes get it right and sometimes don't. He deliberately avoids framing the question in terms of truth vs untruth.
Income is even less important as a determinant of emotional happiness. Winning the lottery is a happy event, but the elation does not last. On average, individuals with high income are in a better mood than people with lower income, but the difference is about 1/3 as large as most people expect. When you think of rich and poor people, your thoughts are inevitably focused on circumstances in which their income is important. But happiness depends on other factors more than it depends on income.
I've seen a study that dovetails with this conclusion nicely. Basically, it was "money can't bring you happiness, but poverty sure can." The psychologist said that basically for families below 60,000, money did correlate with happiness, but
after 60,000, it makes no difference at all. "I've never seen a line that straight," he said.
Interesting. I've seen things that contradict his statement about education, but it's good to hear a balancing opinion to the usual "education is essential" rhetoric.