The thing with SF is that the media and a large portion of the US loves to hate it - theres a narrative that keeps getting the replay button. They always will, and it will always die just like Silicon Valley is over and the next Silicon Valley will be in (insert any city, or china). These stories have been around forever, and they will continue forever. Yes SF will go through a down cycle as a result of pressure being taken off of the rental market, and it will fill right back in when people want to live in the city again and the pandemic has passed.
Pretty sure college is going to be in person again (UCB, UCSF, Stanford) as are the National Labs.
The media has overhyped this ... of all sources Business Insider.