Yes, they should build more. But again, that's just pushing the core problem away from SF (one of the most notable cities in the US for over a century, with a history of economic booms and high migration) to what was until recently a large-ish college town known as a haven for slackers.
Having lived in one of those cities as a low-income resident, a medium-income resident, and now a high-income resident, I assure you that the high income residents do much less for these cities than any other group. And no, taxes do not make up for it.
Having lived in one of those cities as a low-income resident, a medium-income resident, and now a high-income resident, I assure you that the high income residents do much less for these cities than any other group. And no, taxes do not make up for it.