Well, it ain’t excerpted.
That crap at the end is a bit attitudinal though.
The answer to that is easy - private railroads at the time could barely afford to offer scheduled service and standards were dropping fast. No private railroad has ever made money at intercity rail travel since the turn of the 20th Century, but they were always able to keep it going by subsidizing with their freight hauling. But autos, the interstate highway system, and cheap air fare sounded the final death knell for long distance trains.
Railroads are incredibly efficient at hauling large quantities of bulk material long distances quickly. Efficient at intercity rail travel they ain't, except for certain city pairs and corridors.
I like the idea of getting the gov't out of the business of running a major transportation system and let the free market and innovation decide what part of rail travel survives as a profitable business.