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I'm going to assume, for generosity's sake, that you weren't being sarcastic.
I was not being sarcastic. I found Steinbeck's explanation fascinating, I suppose for it being the first time reading/hearing it.
I tend to want to couch it more like "Socialism never takes root anywhere there's a preponderance of selfish individuals", because I think ego easily explains so many social failures to connect. Say that, it doesn't seem a stretch to regard an ego as a "temporarily embarrassed millionaire".
But I also think it's important that being labeled proletariat doesn't fix the ego problem in such. As far as I can tell, most of the "proletariat" would become bosses/the-wealthy in a heartbeat if they could.