Without injection of new housing stock by the state, by coops or other agencies than BTR capital investors, it's highly likely to be a weaponised outcome to prove rent controls don't work.
If the construction strike by commercial investors is replaced by public housing then the better outcome can emerge.
> If the construction strike by commercial investors is replaced by public housing
Aren't you just describing "the projects"[1]? Is that a better outcome?
[1] https://en.wikipedia.org/wiki/Subsidized_housing_in_the_Unit...