Relativism

"However, with the lack of conflict or friction, the desire to strive and improve is removed" They could ask others to give them such and/or ask the system to limit their powers, including modifying their memories that they have done so, so that they can conflict and strive in a number of virtual worlds all they like.

With "equal omnipotence" there is still politics. There is no longer any physical limitation, so physics becomes a realm of artwork and social games.

But there are also mental/psychological limitations. There may be limitless frontiers due to the difficulty with acquiring knowledge without inducing suffering. The knowledge is required to know what we would want to do, how to improve our mind and experience. This may be a never ending process of discovery. No matter how good we become, we could always be better.