Edit: Changed title to be more accurate.
Also here is the summary from Wikipedia on what Post-scarcity means:
Post-scarcity is a theoretical economic situation in which most goods can be produced in great abundance with minimal human labor needed, so that they become available to all very cheaply or even freely. Post-scarcity does not mean that scarcity has been eliminated for all goods and services but that all people can easily have their basic survival needs met along with some significant proportion of their desires for goods and services. Writers on the topic often emphasize that some commodities will remain scarce in a post-scarcity society.
Yes, tools don’t make things, people using tools produce things. And capitalism as a tool has been used to produce a lot of things, a lot more than socialism. But like any tool, you don’t want to use the same one all the time for everything. Economics is about incentives, and different systems put the incentives in different places. You don’t want to run a prison on capitalism because it incentivizes imprisoning people. But if you’re running a country on a planned economy it’s difficult to incentivize people to work harder just because the government said so, even if it was a democratic decision that people should work harder.