Providing these €49 tickets requires an annual subsidy of around €3bn, on top of already substantial subsidies for the rail industry. If we accept that it reduces carbon emissions by 6.7 million tonnes per year, then that works out to €447 per tonne. That really isn't good value - most carbon abatement methods cost well under $100 per tonne. I do recognise that modal shift towards rail may have other positive externa…
E.g. during the original 9 Euro Ticket, the government also reduced taxes on gas to fight inflation, and this cost as much as the subsidies for the 9 Euro Ticket. The gas tax reduction's costs were 3 billion, and the 9 Euro Ticket costs were 2.5 billion.
So I would call it exceptional value when compared to other things.