To an extent. If we're complaining about the cost benefit of it, then I guess it's great that a rail line can make life more convenient for the relatively well to do. Seems like it sucks up a lot of opportunity cost for the government when it doesn't seem to improve the lot of those that need their lots improved the most.
But, it is valid that if we don't want to have to sit next to undesirable elements, or if the bus stopping in the "ghetto of every city" is a bad thing for our patrician friends, then pricing the smelly and dangerous poor out of using our beautiful trains is good for economic efficiency.