Sharraxaadda

Is the stoplight here really necessary? The only time the light turns red is when pedestrians hit the button.
Wouldn't a stop sign suffice? Pedestrians and motorists wouldn't have to wait for the light to turn green/red and would be able to get on with their life. I've seen stop signs be used like this near DePaul University and motorists always stop for pedestrians (...because, you know, it's the law). I've never seen it become a problem. If anything, replacing this stoplight with a stop sign would save electricity and the patience of motorists and pedestrians. Just a suggestion.