As a Singaporean born and raised there and then left, you are spot on. Most Singaporeans, esp talented tech workers, do not wish to stay there. It's a gilded birdcage - if your moral values and behavior align with the government's, Singapore is a very clean, safe and prosperous environment for you. If you even have the notion to disagree with the government on anything, go somewhere else.

Because of such authoritarian attitudes in society, Singaporeans are raised to be subservient and fearful of authority (whether they know it or not). This means no creativity - the prevailing mentality in Singapore is "don't try to be clever - do what the authorities say and you won't go wrong", sort of like the local version of nobody gets fired for buying IBM. this is the reason why there is no innovation coming out of singapore despite the govt trying to offer all sorts of grants and schemes to "support local entrepreneurs" - because singaporeans have been psychologically beaten to subservience and are crippled when it comes to thinking out of the box because they have been conditioned by society to believe when you fail, you will be ridiculed and mocked and maybe even punished.