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As someone who grew up there, has relatives and friends there and loves the city -
It’s got a ton of great things but also a lot of very real problems if you live there. Housing has gotten stupid expensive because of all the airbnb landlords/investors. The cost of living outside of housing is also generally high. There’s not that many well-paying jobs and the city economy outside of tourism and shipping is pretty bad (though these days people can work remote). Crime has been pretty bad as well. The roads and infrastructure, outside of the flood protection, are awful - my parents street has declined from a bad road to an unpaved road full of sinkholes and a couple metal plates over ten years without repairs, for example.
Love visiting but it’s really hard to figure out how to live there unless you have money, basically.
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