The UK once subsidized a working system, then destroyed most of that system without any resulting cost savings, then sold it to billionaires who it now subsidizes.
I am well aware of the story. BTW British rail stopped being profitable back in 1955 (7 years after nationalisation).
It proves that maybe you shouldn't let government take public ownership of companies. Government will frequently provide the worse of both worlds as it tries to appease everyone and ends up serving no-one.
The result for the UK is that we have a very expensive rail service that is horrible to use and it is simply cheaper to drive.