If I left at 7:09 AM, I could walk 5 minutes, catch a bus, change to a train, change to a another bus, and walk 5 minutes to arrive at 8:18, paying $3.40 one way.
Or I could leave at 8:30, walk 1 minute out to my car, drive 20 minutes, and walk 2 minutes to arrive by 8:55, paying whatever 8.5 miles of car ownership and operation costs me. Is it worth $1.58 (at GSA rate of $0.585/mile) to buy myself 81 minutes at home? Hell yes, it's worth $1.17/hr!
My office is one of the better ones, with a bus stop nearby on both ends. From my prior apartment and office, it would be 7:19 departure, half-mile walk, subway ride, bus ride, and a one mile walk to arrive at 8:32. Or a 24 minute (in morning traffic), 10 mile drive. In both cases, I could leave my house later than I’d have to arrive by public transit and still make that 9 AM meeting.
IMO, to the extent “buses are for poor people”, it’s because they’re terribly inefficient for the riders’ time. Maybe if they were more time-efficient, more people would choose to use them?