But home values will plummet is a common bogeyman used in local zoning battles, so separating the two concepts is not as trivial as you suggest.

Precisely.

I don't know of any SF voters who think "oh yeah, I need to fight this new development so the price of my house continues to rise".

It's more like "I like the way my neighborhood is and don't want it to change".

I'm afraid a change is inevitable. But it can be a softer change that mostly preserves what they care for, or a rough and dramatic change if no adaptive measures are taken.

I suppose that SF residents probably liked what their city was in, say, 1985, and did not want any change. Has SF changed somehow by 2020? Was in to the better?

If you talk to people who have lived in Mountain View, CA for 30+ years they aren't thrilled about Google moving in. Sure their property values are huge but quality of life is worse. Property appreciation doesn't mean much if you're not planning to sell and just want a nice place to live.

Don’t be crazy - everyone wants to live in a pod!