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Lived in Manhattan for 15 years... Fintech side of finance... Good money pretty much anywhere but Manhattan, but not hedge fund/PE/VC money (I made 500-700+k a year)... Owned a 1 Bd in a new construction building in Chelsea, went out a lot, etc. It was fine until kids... Because the moms hang out and you find out how poor even 1m a year is compared to a lot of your kid's peers. You end up feeling like the poorest rich person a lot. And that's a tough place to be.
Keeping up with the Joneses is a thing everywhere to some degree... But the Joneses in Manhattan are very very hard to catch.
It is (I grew up in Marin and lived in SF after college). Marin is even worse than when I lived there I'm sure.