Earlier quoted context omitted.
That's the myth. Streetcars were actually torn up because busses were much cheaper, there was no conspiracy. The streetcars were also old and cold and ppl hated them. (I lived in a streetcar part of SF, and loved it, fwiw. But the only reason it's still there is a tunnel.)
That is a statement that really needs citation and qualification to back it up. I'd argue that 'cheaper' is used in a vacuum here. By that I mean that the point of mass transit isn't how much it costs, but how much value it provides. By that measure the bus services that replaced streetcars and other mass transit really doesn't stack up. Busses have led to much lower ridership which has led to a massive amount of bad…
I think you're making a different argument, where trains attract a more well-heeled commuter. Which is why many cities have brought back LRT as part of a redevelopment plan.