I don't see why. It works in Buenos Aires, for example. Any American city should be jealous of Buenos Aires' bus system.
And the bulk of the NYC subways were built and operated by competing private companies for decades. That stopped when first the city regulated them to the point that they could not make improvements, and then the city nationalized them.
And the bulk of the NYC subways were built and operated by competing private companies for decades. That stopped when first the city regulated them to the point that they could not make improvements, and then the city nationalized them.