Have read quite a few articles concerning this topic offering viewpoints on both sides of the equation. As the OP, all are fascinating.
Relatives who live in the Bay Area are somewhat ambivalent. On one hand, they are loving the show and the financial rewards, but on the other hand they’ve expressed they miss life as it used to be. Whatever happens–they aren’t planning on going anywhere–whichever direction the future takes.
It will definitely be interesting to watch how things play out from both an investment and sociological perspective, and to see if things really are different this time or not.