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IMO its just business, not grabbing another City's team. you can't grab another team unless you have better numbers, and in most cases.....much better numbers.
in most cases, pro teams move because the fan base there isn't strong enough. if SF had a "fanatical" base like say.....Green Bay, they could've made it work in SF. granted, the cost would've been even higher than the reported $1.2B.
Back in 1997 when San Francisco actually passed that measure that made us all think they were getting a new stadium, did the NFL have that stadium fund?? I honestly don't know, and imagine they did but it probably wasn't such a large chunk of change.
Seems like that 150-200 million loan is what made the most recent new stadiums a reality, and it probably would have gone a long way at getting the 49ers a new stadium 15 years ago.
With that said, 15 years is a hell of a long time for the city to talk big and make nothing happen, so its no ones fault but the many mayors and council members who didn't do enough to get the deal done.