Yep, "If you don't build it they won't come " doesnt work - especially in a desirable place like CA. I really hope these people don't really believe this motto. The current status is just wealth protection for those that got in years ago.
Regarding traffic - it is really sad that the epicenter of tech (and frankly our entire US economy) is so backwards on public transit and infrastructure. Its such an easy fix if we rolled our sleeves up and did it now and not over the next 40 years...