If the private owners were serious about spending money on the road then it would have to be closed and repaired in sections over at least several weeks. That could cripple local businesses. It's the only soi in the area that has never received any proper maintenance apart from continual filling in of potholes which just return even days after. They might as well just pour down packets of Kellogs Frosties.
That said, it kind of gives the place a bit of character 😃 As has been said many times, the only thing to do long term is to knock the whole street down and rebuild. I wonder if or when that will ever happen.
Lighting is of course the other issue and at night it is a death trap if riding a bike and if wet, stepping in or tripping up in the potholes. Many people only walk about half way up anyway, coming from the Triangle end. Once full of Laundry shops, now awash with massage parlours.