It's probably true, however, what is the correct point to "freeze" all development?

Most of silicon valley before the tech boom was orchards. Before the orchards, it was undeveloped land.

An argument could be made that development should have been frozen when it was orchards since it provided food, farming jobs, and bucolic scenery.

Environmentalists perhaps would prefer that even the orchards shouldn't have built and that the land was best kept as natural habitat.

You leave tens of thousands of people to run around trashing public spaces and consuming ~100k each year in emergency healthcare and maintenance costs to repair the damage they do, and that number keeps going up as the property bubble keeps going up.