That would be a true utopia for the liberals. However, it would create a sloven world where people would not do anything to create or deeply interact with each other. People would become shallow and withdrawn.
I'm not saying everyone would become sloven, but just as socialism fails, a free entitlement society would be a failure too.
Human beings need to be active and creative to be healthy both physically and mentally. Incentive to be active and creative would be squelched, and society as a whole would be seriously deminished. A meaningful society may even cease to exist.
Creativity and barter for it are neccessary. Money is the modern tool for that. If you want someones creation for whatever reason, you should be willing to pay for it.