That’s been the mentality in SF for years — “we don’t want to become nyc”. And so what happens? Prices skyrocket, the people who made the city interesting and serve its needs are pushed out, and only the rich enjoy it. The young generation as a whole has little hope of home ownership, while the top who work in well paid jobs reap all the rewards. Those well paid jobs are where it’s expensive to live, so it’s a catch 22. It doesn’t create a balanced society, and in fact just further stresses the differences between the haves versus the have nots. At it’s worst the wealth inequality turns into tinder for moving beyond culture wars into actual war or revolution.