I feel like it's only going to get worse. California has a good number of problems: housing costs, traffic, wildfires, homelessness, ... and the high tax rate you pay for the privilege of enjoying them. But I haven't seen California take meaningful steps to solve any of these. We're still in the stage of "problems are getting worse", and any solutions will take a long time to materialize.
I grew up in California. It's still a great place to live if you're rich or if you bought property in a good location a long time ago, but if neither of those are true, you're going to have a huge uphill battle. Most people in my millennial friend groups, including me, have all talked about how we'd like to leave. We're mostly still here because our families are here and good jobs are easier to find. But each year, one by one I see people I know flee to other states.