It does on the surface, but the problem is it quickly devolves into extreme utilitarianism. There are some other issues such as:

1. How rich is rich enough for EA? Who decides?
2. How much suffering is it acceptable to cause while getting rich to deliver EA?
3. Is it better to deal with the problems we have now and in the immediate future, or avoid problems in millions of years that we may or may not accurately be able to predict?
4. Can you even apply morality and ethics to people that do not exist?
5. Who decides what has the most value?
6. It’s a cult.