Absolutely. I am constantly seeing posters on HN who are clearly far unhappier than me, even though they are pursuing wealth with some success (or even a lot of success). I too am living in relative poverty (sub $1500 a month) and open source was the best risk I ever took.
There are some really interesting angles to consider such as the more predictable income of being supported as a working developer, rather than being paid for your 'hit products' and having to generate more hits or starve. Quality of life is also whether you're subject to ruthless pressures. You can trade off income for creative freedom, in a very natural way. Do weird noncommercial stuff if that is more important than maximizing revenue at any given point. There'll be a natural balance between how hard you're trying to please a customer base, and how much that base will reward you for pleasing it.
There are some really interesting angles to consider such as the more predictable income of being supported as a working developer, rather than being paid for your 'hit products' and having to generate more hits or starve. Quality of life is also whether you're subject to ruthless pressures. You can trade off income for creative freedom, in a very natural way. Do weird noncommercial stuff if that is more important than maximizing revenue at any given point. There'll be a natural balance between how hard you're trying to please a customer base, and how much that base will reward you for pleasing it.