The WEF is losing. What’s happened in SF, like in so many other things, is an “unforeseen consequence” of many linked policies that they supported.
These people have way more to lose than the masses. They owned the now-empty SF downtown (as also so much else), directly or indirectly. They are trying to avoid recognizing these losses, but they will have to, eventually.
They’re definitely in trouble and that makes them more dangerous. More and more people are waking up and they’re scared of that.