The argument is that not enough housing to meet demand is because of the policies and politicians of SF. There are levers with which they can control both the demand and supply.

Right, taxing large corporations more and making their takeover of the city slower would have slowed the increasing demand for housing. SF's government could have chosen to not sell it's soul entirely to big tech while still supporting smaller startups and businesses. I would argue that the policies have not been left wing enough despite the perception that SF is very left wing. Reality is that the leadership of the city is in the pocket of the tech industry.

Let some of the money go elsewhere and boost some other city's economy rather than having it all focused in one place to the point of it causing major problems.