It depends, urban cities should have regulations that require actual urban development. Without that a developer will plop a craptastic urban sprawl style dump into the middle of a dense city which is unacceptable.
So you think Houston's no-zoning system is bad? (Not that I disagree; I just want your thoughts)
It turned Houston into a sea of parking lots downtown. Leads to dead downtowns to please suburbanites who rarely go there anyways. At the same time NIMBYism is a cancer that can exacerbate good zoning by not letting anything can get built. I love strict zoning to keep cities urban and dense but need to check that to allow things to be built at all over NIMBYs or that might be slightly outside of perfect. Just can’t let a suburban style strip mall with large surface parking to be put there in its place.
Actually, that isn't totally true. Houston has no zoning, but it does have parking minimums and massive, subsidized highways. In a truly free market, you get a very dense, walkable environment, because driving is really expensive and really subsidized.
Eliminate parking requirements and Prop. 13, that will work a lot better than this bill.