Lots of thoughts here.
"Latter times" of what? I see "latter" as after Christs appearance. Not "end of days".
I could easily apply the catholic ideology to that statement. Priests don't marry, eat fish only on fridays, seduced by physical power of fear, etc.
But it goes beyond that. It is a return to the physical tenet (and law) of the OT. The "devils" want us to love (and obey) fleshly things, as they are of the "God of this world. It is in direct conflict of the God of spirit, the Father.
Man is seduced by love of physical (mammon) while seeking love of spirit (God the Father). You cannot serve two masters, and the verse is saying that man will eventually find a compromise to serve both.
This has already happened, and continues today.
Matthew:
22 Many will say to me in that day, Lord, Lord, have we not prophesied in thy name? and in thy name have cast out devils? and in thy name done many wonderful works?
23 And then will I profess unto them, I never knew you: depart from me, ye that work iniquity.
So who are these people? The ones who think they were Christian, yet never followed Christ.
Gospel of Philip:
If one goes down into the water and comes up without having received anything, and says "I am a Christian," he has borrowed the name at interest. But if he receives the Holy Spirit, he has the name as a gift. He who has received a gift does not have to give it back, but of him who has borrowed it at interest, payment is demanded. This is the way it happens to one when he experiences a mystery.