I know you mention privatizing but that can’t be stressed enough. Amtrak is a unionized mess. It is run poorly (frequently late) and the service is generally shoddy. Even the lounges for passengers in terminals where there is high demand (like DC’s Unions station and Penn Station in NY) are throw backs to the 1950s. Good luck getting the unions out of train travel. They are deeply entrenched and are, naturally, the main problem with it.
Amtrak, much like the post office and other federal agencies, is nothing more than an employment agency for minorities.
THrowback to the 50s?? In the 50s, train and air travel were wonderful. Try the 70s! And as someone who traveled Penn Station for years, I know what I’m talking about.