I disagree. As long as you patiently set aside acertain percentage of your gold each turn, you can build up a massive reserve of public works funds. Then, when you acquire the advance needed for a major new type of improvement - such as railways - you can build a nationwide network all at once!
In Sider Meier's Civ series, you're limited by the number of settler or worker units you possess; it can take dozens of turns to link all your cities up with rails. Not so with CTP - just lay down all the track you can afford in one turn, and it will be functional a couple of turns later. The same applies to mega mines and hydroponic farms - once you're advanced enough to build them, you can boost the production/food output of many cities simultaneously. My favourite is undersea tunnels. Save up public works against the necessary discovery, and then create rail links between all your various continents and islands in one grand development.
Public works is one of the primary advantages of CTP.