Rent control: A random windfall for whatever tenant snags these coveted apartments when someone dies in a 3 bedroom apartment they haven't needed in 30 years but "can't afford" to downsize from since they have been paying $650 since 1989. Also the illegal subletters who are numerous and shameless, from personal experience.
Low-income housing minimums: A random windfall for a few lucky lottery winners, while everyone else from indigent to middle-class has to struggle because the developers need to build only luxury housing to make up for eating the cost of the low income housing.
And then this housing first thing is more of the same.
> siphoned off into these non-profits
Indeed. The homeless-industrial complex of nonprofits in SF is huge, but popular since it is a jobs program for all the people with social science bachelors and masters degrees, and no marketable skills.