> this is a loss for NYC and the future development / resilience of its economic base.

I don't see any reason to prioritize the "economic base" over the people currently living there. Those things do not necessarily go hand-in-hand. They can, but often do not. Those elected officials seem, to me, to be representing the best interests of the people who voted for them. What's best for the tax base of a certain geography is often at odds with the people currently living somewhere.