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I'd agree with Eliezer on the idea that happiness depends on being able to appreciate the world that you live in, regardless of its laws.
In a world where you can quickly manipulate underlying structure for quick satisfaction, the desire to understand more or improve (for humans at least) is quickly ignored because you can quickly achieve what you want. In Terry Pratchett's 'The Last Hero', the equivalent of Leonardo da Vinci is considered strange by wizards, as they deliberately begin by deciding what they want and then phrasing the spell, whereas he takes time to understand the structure of the universe first, and in doing so creates more complex and longer-lived effects than those wizards, who care only about the results and not the means (much like politicians I think!).
And the danger of having the ability to change physical reality en masse is dangerous in large numbers. As for the 'caring universe', the fact that reality has multiple organizers, each believing themselves worthwhile, the idea of favoring just one is grossly unfair, in those settings which have deities, many are often species-specific (racism and ethnocentrism on a cosmological level).
Even with elemental-level abilities that depend on consciousness, consciousness itself is the greatest ability of all, to understand and influence reality by proxy or directly. The key to your future is whether you can continuously improve as individuals or as groups without destroying the fabric of reality.