It's not much of a singularity if there aren't real economic gains. I see no reason that prices of tdoay's typical consumption goods should go up. In fact, most of them should drop precipitously. Pricing of positional goods will skyrocket and become unaffordable to those who didn't create enough value or capture enough rents during the transition. It's hard to say what will become of economics in a time of no scarcity, though. I think most "needs" will become essentially free and the economy will consist primarily of positional goods.

One could argue on this definition that we are already pretty close to such an outcome, at least in the rich world.