I have been assured that NO development is planned by the City, that conversion to park land is a sure thing, but I'm still nervous. Nothing has been decided regarding the fate of the stairs. I think that the liability issue will be the BIG headache. I don't think so. People hike these natural features at their own risk.
Nobody is liable for the hikers but themselves.
If there are sections of trail that get thin or washed out, volunteers from HTMC, Sierra Club, and private citizens fix them up by putting in ropes or cables. Hopefully, people will be careful. Groups that go up the stairs could do as Patrick has suggested. The law exempts landowners from liability from injuries suffered by hikers who are on their property. This particularly helps with government-owned property and big landowners like Bishop Estate.