This reads very much like the anti-atheist argument of, "Who's going to stop you from raping and pillaging if there's no almighty being keeping you in line?"
It seems more like an indictment of the speaker than of the rest of society.
It most certainly is, I have Christian friends that have used that exact line asking me how I can have morals as an atheist without the threat of a higher diety. As if being nice for the sake of just being nice is an impossible concept. Or in this case that only money would inspire me to do work. As we know from studies, money isn't the only incentive for innovation. In fact at a certain point, ~75k it tends to become less of an incentive.