This feels like a "yes, and" thing, where the most important use of effort is to reduce production (and we're nowhere close yet), but at some point we'll need to also do capture to deal with production that is truly unavoidable, and, if we're dreaming, to achieve net negative production, for the purpose of returning to preindustrial levels.

But yeah, if you're burning coal with one hand and making charcoal with the other, it's all pretty pointless.