Sure. it partly fits. But it doesn't quite answer the question as to where the ethics are literally coming from. I believe that the counterpoint to 'bad' actions, is good actions, but without a non-materialistic basis for ''good' actions, I'm not sure they are even existant or defined.
You mean morals? Ethics are just codes of conduct we agree to because we feel they are mutually beneficial.
Morals come from our feelings. Some behaviors we feel good about and some we feel bad about. There is a commonality among humans because I think there is a genetics influence. We kind of "inherited" a lot of our personality traits but there is enough genetic drift that some folks are born with, lets call them, non-social behavior.
Same is true of religious folks. They feel strongly about their religious morals because of the personality traits they were born with. Some folks in the middle east feel it's morally ok to chop off others folks heads for religious reasons. They are all mostly working with the same gene pool.
Some people I think are more flexible in their morality than others. I'm sure they like to think they are more progressive, but that maybe just another inherited personality trait.
So I guess morality is basically built into our DNA.