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Bail is a little bit more nuanced than people make it out to be.  Entirely eliminating bail or severely restricting it's use leads to what has happened in New York.  There is still a place for bail.
I absolutely agree, INITIALLY you are either a threat/flight risk or you are not.  If you aren't a risk, you get released without bail.  But, what if you are released and you don't show up to court?  What then?  Warrant, back to jail.  Should that person then have to sit there until trial?  No, generally they should get offered bail.  So, they bail for say $250.  Still don't show up to court.  Warrant, eventually back to jail.  Well, now they have to bail for $1,000.  So, they do, still fail to show up to court and once again a warrant is issued and they are back in jail.  They either rinse and repeat, bail and show up, or stay incarcerated until their trial date.
Another example of when bail might be appropriate is perhaps someone is arrested for their 9th open offense.  They have three different trespass cases, five shoplifting cases and a minor drug offense.  Through this process of book and constant release, they are missing court date after court date.  They get picked back up, back to jail, new court date issued, back out on the street.  They are forever just pushing out their court dates and never appearing.  Maybe, on this new minor shoplifting offense, it's time a judge sets bail?
There are a lot of people in society that have nothing to lose, or just don't care, and will not show up to court.  There's also people who posting $100 bail is a massive incentive enough to show to court, so they get their $100' back.  Outright saying we should eliminate all cash bail fails to address the systemic issue of incentivizing people to show up to court when they outright refuse to.
Same as that guy who ran over people in the Wisconsin parade, out on bail and probably shouldn’t have been. (If he had been in IL which had bail reform he would not have been let out.)
This is why bail is absurd. Either you are a threat/flight risk and should be held pre-trial or you aren’t. Money should have nothing to do with it.