Agree to a point, but I don't think it would be the majority. It would be a minority of people who subscribe to philosophies that provide meaning and motivation to life beyond hedonism and material gain. The rest will be happy, or at least resigned, to vegetate in endless endorphin loops.

It's already visible today, with people of all ages spouting all sorts of hedonistic nihilism to justify not making an effort to improve their condition. Some sort of technological singularly would simply be an amplifier of our current dysfunctions.

To some extent it would be the apocalypse. The motivated people would band together and live in physically secure communities, while the nihilists form what amount to a vast expanse of homeless encampments and wallow in their addictions, occasionally making poorly coordinated attacks on the gated communities to dry and drag the motivated people down to their level out of spite.

Picture drug addicts who win the lottery. It won't be pretty