How true is it that Taft Avenue is unsafe?

It's unsafe if you are careless. I mean, it is true that there are a lot of snatchers and crooks there, but if you are cautious enough, you won't become a victim. For instance, try to not walk around Pedro Gil and PGH at night. Don't go to Intramuros alone, and always hold on to your bags *real* tight when on a bus or jeepney. Don't expose your phone and wallet to the world while using them.
Any place is unsafe if the person isn't being careful. Just use some precautionary measures and you won't be harmed. ^_^