Thin atmosphere worlds are better for this sort of thing because population is king when it comes to big numbers and they give you an innate +50% food bonus to stack with everything else. Also that layout isn't quite optimal. If you are going to stack your capital and the Singularity Power Plant with Death Furnaces you need to surround the Death Furnaces with those. Death Furnaces is the star of the show here and needs to be the highest level building on the planet for the massively, gigantically, overpowered boost it provides in this kind of setup.

A level 19 Death Furnaces provides a 240% boost to raw production which is derived from your population. Under the tooltip for it is just another factory.

Our base total unmodified raw production is 281.9. Add in over 500% in boosts to reach the final number.
With research subsidies:

With econ subsidies:

What turn is this? 180 pop? Everything can be nuts given enough time.
Given the buildings on the planet this will be a late game planet (or a test world using the unlock commmand) just due to the building unlocks in the tech tree. Here's the catch with population on a world like this: with such a massive production setup you can run 100% social manufacturing and birthing subsidies to increase your population by 10+ billion per turn and fill the planet up super fast. You can then build massive ships to transport tons of people away every turn and use this one world to super populate your entire empire.

Someone explain this to me in simple terms.
What I am seeing is if you grow massive population and build all factories, you can convert the production to anything by using the slider and the projects.
If this is correct, I guess I get it but the numbers are hard to comprehend...wow just wow. I don't understand how population gives you multipliers like that.
Population gives raw production. Your total raw production is divided based on your govern wheel setting and then modified accordingly based on planetary improvements, starbases, tech bonus, etc. Looking at the tooltips posted you can see the base numbers which then get modified by the percentage boosts to reach the final numbers.