It has two distinct fields and a neutral, however, it is still a singularity, because one field can not exist without the other. The closest thing I can equate magnetism to is pure white light, surrounded by two equal and distinctively separate driving forces. In this rendering , the equator would be the magnetic neutral, the two inner mesh spheres would be the driving forces and the outer mesh sphere would be the resultant perfect point of balance of both spheres. My thoughts are these. At the inception, there was magnetism and magnetism is attractive.
Magnetism also has two distinct and separate fields and a neutral zone.
As the fields get stronger and stronger, the ultimate strengths would set off self annihilation and the resulting explosion , would send magnetized matter spinning into space in all directions. The magnetized matter gathers strength and mass by attracting space dust and debris until the matter and energy is so dense it explodes. The center of the resulting thermonuclear reaction would have the purity of light and be capable of creating matter itself, along ash and heavier particles. The ash and heavier particles are flung to the outer extents of the magnetic fields in, a gyroscopic effect at the magnetic equator. The lighter elements such as air and water, are trapped under the heavier cloud of ash and space debris.