This quote offers a provocative and metaphorical commentary on urban change and cultural gentrification. Historically, urban renewal efforts sometimes involved destructive actions, such as demolishing neighborhoods under the guise of public health or safety, often displacing existing communities. The mention of the 1900s and the burning of a neighborhood during a plague evokes a time when drastic measures were seen as necessary to safeguard public health, albeit at significant social costs.

In the present context, the speaker uses this historical analogy to critique modern developments—specifically the way gentrification and commercialization have transformed neighborhoods. The phrase 'blight of well-meaning hipsters' highlights a perceived patronizing attitude from certain new residents or developers, who may claim to revitalize areas but in reality contribute to the erasure of local cultures and histories. The desire to 'paint it rainbow' symbolizes efforts to beautify or superficially improve the area, often without genuine regard for the existing community.

The quote raises questions about authenticity, change, and the costs of modernization. It suggests that sometimes what is presented as improvement can actually undermine the social fabric of a community. The extreme imagery of neighborhood destruction underscores the speaker’s frustration or sarcasm at the perceived superficiality of current efforts and the potential loss of genuine cultural identity.

Overall, the quote prompts reflection on urban development's complexities, highlighting the tension between progress and preservation, and the responsibilities that come with shaping our shared spaces.