The author said a potential future for San Francisco is as a "gated community for the rich." That may be the case, perhaps already having been so for a long time. It's unfortunate that an economic juggernaut heralded as the shining center of modern American capitalism is also so inaccessible, but that does not mean the overall solution is by making that place accessible at the expense of more realistic options.
The author compares the density of SF to NYC's Brooklyn. Like Manhattan, San Francisco is owned by the rich and their rules, yet Brooklyn is big and booming. Oakland is prime to take up the role of the Bay's Brooklyn.
Side note: if people want to return to the halcyon days of San Francisco when the wealthy and the workers could live atop the same rock, it will cost a ton of money. Hairdressers, grocery clerks, teachers, and the like will either need massive housing subsidies or comparable salaries to tech workers. That possibility could exist too, if the well-heeled agree to let go of a big chunk of change.