Not at all. Adding more supply is definitely part of the solution.
The problem is that adding supply takes time, there are physical limits to the rate at which supply can be added, and the level of demand is unknown.
This means it's hard to know when a supply only solution will result in decreased prices and it can take a long time. (Vancouver is not SF, it adds plenty of supply and yet there is still housing shortages and high prices)
If you want to fix the problem quickly, policies that increase supply and limit speculative demand will achieve results faster.
The problem is that adding supply takes time, there are physical limits to the rate at which supply can be added, and the level of demand is unknown.
This means it's hard to know when a supply only solution will result in decreased prices and it can take a long time. (Vancouver is not SF, it adds plenty of supply and yet there is still housing shortages and high prices)
If you want to fix the problem quickly, policies that increase supply and limit speculative demand will achieve results faster.