This bourgeois liberalism is exactly what we have now. Even the young American Marxists never read Marx, but they do order from Amazon.
It simply means there is no right and no wrong. It's dollar governed. If you have money you can go yo Disney World no matter who you are, for example.
Today it either ends in Nihilism or fascism or both. It is really a form of Nihilism. It ends up moving toward fascism because if capitalism really is in decay due to climate change and resource depletion, then even the mainstream Biden voter, for example, must move toward fascism to preserve the financial markets and to further enslave labor ie squeeze more profit out of labor.
Read the Wikipedia on Max Kommerell for a criticism from the conservative side.
NB what about the people who do know the difference between right and wrong? The real Left and the true conservatives. This next paragraph is instructive:
Burgfriedenspolitik (German: [ˈbʊʁkfʁiːdn̩s.poliˌtiːk]), literally "castle peace politics" but more accurately a political policy of "party truce", is a German term used for the political truce the Social Democratic Party of Germany and the other political parties agreed to during World War I. The trade unions refrained from striking, the SPD voted for war credits in the Reichstag and the parties agreed not to criticize the government and its war Wikipedia
The King, Father, lives in the castle. The father doesn’t have to be male. It’s the “father idea” that is operative.
To know right and wrong means some internal dominance by Super Ego. The true conservative of course can fall into rigid authority, but so can the socialist. Hence they are always at risk of falling into line behind FATHER. Internal father. Authority. The Super Ego.
In fact, Freud used the Socialists as an example, pointing out their tendency to self-defeat at the last minute. Note the vote of war credits for the Kaiser for WWI by the SPD! Probably the most infamous day in socialist history. And then later, after WWI, during the socialist revolution in Germany, the SPD Leader was in secret contact with the reactionary Right. The socialists defeated themselves.
The chances for human liberation seem very slight because even the best people in society cannot communicate “without fear” (we think of Habermas here). It is not just external threats of violence that we fear, but the internal threat of Super Ego (and the Super Ego is just bad history passed down by the parent. Ultimately it is too rigid).