$950 is a completely reasonable threshold for felony theft. Before this state-wide, not city-specific, reform was introduced California had the lowest threshold in the nation. It is still fairly low. In Texas, the threshold for what you inaccurately call "quasi-legal" is $2500.
Shorter sentences is a solid reform because longer sentences are not associated with better outcomes and it costs $100k/yr to keep someone in prison, and that's money that could be spent on community policing instead.