Agreed; it's only one step forward.

As a policy, it'll probably seem relatively non-eventful in retrospect for all parties. Spaces/unit won't go to zero suddenly, even for new development. The existing housing stock won't change character. It'll be difficult to see the impact on overall rent inflation. Nobody will complain when 80% vacant parking lots under 100% deed-restricted buildings aren't built. Nor will people building ADUs or other infill projects complain about that one piece of red tape that they didn't have to comply with; plenty remain.

I do think it's a big deal politically. This and the bike safety ordinance reflect a Council acting assertively on a strong mandate from their electorate to rebuke post-war housing, transportation, and land use policies.