I've never been asked how much money I had, as a fellow Frenchie, in the 23+ years I have been visiting Singapore (50+ visits). Knowing our dear Singaporeans, I bet this provision is a "just-in-case" for travellers they might deem undesirable, giving them a potential reason to deny entry... See how vague the requirement is, as opposed to say Thailand for VoA applicants, who need to show 10,000 baht. Plenty of leeway for an ICA officer to say "Sorry ah, cannot!" whenever they feel like it.
Similarly, you will probably zip through Customs, while citizens of other, less fortunate, countries will have to x-ray all their belongings...
Also, keep in mind that unless you have an unlucky face like mine[*], you won't even talk to an ICA officer, but will pass through an automated gate, and won't have to show how much money you have...
[*] Last time, in September 2023, on entry, 5 unsuccessful attempts – both my face and fingerprints were problematic; I had to go to a manned counter, and even there it took a couple of tries. On exit, same deal. So, 10 attempts at the automated gates, success rate 0%. ICA officers looked pissed, like it was my fault...