That's really fascinating.
I'm not bothered by developers making money. They're a very important part of the housing system. But what does bother me is when you have buildings poorly constructed, made to be cheap to build but expensive to maintain. Most of the condos along the waterfront meet that criteria.
Even my own building, which on the whole is pretty well built, has to undergo a huge renovation to each unit because the developer used plastic piping instead of copper and it's failing. The developer saved a few bucks, and I'm paying for it years later.
I'm a YIMBY- so long as the developer isn't cutting corners.