The levelling of values would be properly humbling, I think, but also subversive and intolerable for the average psyche. Altruism would be as arbitrary as malignant narcissism, from that levelled standpoint. The threat would be nihilism, which is why so-called enlightened or spiritual elites are cagey about what we're supposed to do once we've seen through all delusions. Or they resort to the double standard, the esoteric-exoteric divide, with one secret message for the insiders, and a bogus, childlike one for the outsiders who can't handle the truth.
As we've discussed before, I'm interested in what the enlightened message would have to be for the late-modern milieu. As you say, the Eastern traditions incorporate the scientific narratives about causality, but they also often promote asceticism.
I think, though, the new kind of enlightenment will have to incorporate not just science but late-modern philosophy, including the death-of-God thesis. The pantheism in Anthony Kronman's "Confessions of a Born-Again Pagan" might be on the right track. It's consistent with much that I've written, anyway.