Totally share your views.
I think the value proposition from giving up your country's citizenship to take up Singapore's citizenship is vastly different if you come from a Western country (for the reasons you mention) or, say, India. Then obviously there are the emotional reasons.
Besides the obvious electoral posturing, I think there is more to it and that it will translate somehow into policy. I don't give high marks to the PAP for their record on human rights, but I give them credit for being able to do maths and being hardcore realists.
- Singapore's birth rate is below renewal rate
- they want to increase the population
- they have stated they do not want to become Dubai where the local citizens are the minority
The logical conclusion is that they HAVE to increase the citizenship take-up from PR's. I have no doubt that they will find a way to this end.
Gievn the structure of leadership at the PAP, it is likely that they will want to preserve the current ratios where the ethnic Chinese are a majority. So, as someone pointed, they will probably target PR's from the PRC, ethnic Chinese Malays and Indonesians.
There's a low likelihood that they would target Westerners and force them to give up their citizenship to become Singaporeans:
- Ang Mohs are not part of Singapore's traditional citizenry
- The Gvt realizes full well that the value proposition for this group is unfavorable
- There are a number of Westerners in senior positions at MNC's who have taken up PR. Imposing such conditions on them would trigger a flight to places like HK, eventually hurting Singapore's status as a business hub