A big issue with the market argument in converting car drivers to transit riders is the respective networks operate at different scales. Think of a little neighborhood with a bus line on a road; theres probably I’m not even sure call it 20x as many roads in that neighborhood that don’t have a bus line. There is so much more built out of the comprehensive road network everywhere than there is with transit. Cities are barely establishing their cardinal direction rail transit routes today. Even living in a place as densely railed as nyc most of those routes are extremely biased in the sort of commutes they best serve (in to manhattan for the most part).

Since most cities can’t afford to ever build their rail networks as comprehensively as the existing road network in even a small city, we are left with bussing to build that comprehensive network. And what do you know, if you look up most cities bus networks they look pretty good and high coverage. So why don’t people take them? Its still worse than a car. A car is a direct bus on your own schedule, a bus route is a compromised route of average population and job density, might not help you get to where you are going especially for drives outside a fixed commute to a central business district. Scheduling and especially transfers can be fickle.

As long as the coverage and convenience are so lopsided, people are going to take cars if they can afford it, even with a shiny new light rail line or whatever is attempted. I have yet to see a project like that attract wealthy ridership that can afford choice, transit rider median demographics are working class or even at the poverty line in a lot of metros. Even nyc subway ridership is 40k income on avg, bus ridership 28k. In the most expensive city in north america no less.