We know public ownership is possible because we've done it before. Recently.
In 2009, the East Coast line was taken into public ownership (after National Express walked out on the contract) and it was a huge success. The service had a 91% customer satisfaction rate, required much less public subsidy, paid back £1 billion to the Treasury and was the most efficient franchise in the UK.
The government reprivatised the East Coast line in 2015, handing it to Virgin Trains. But this example shows that if the railways were run for people not profit they could keep passengers happy and save us all money.
Now Virgin and Stagecoach have walked out on the franchise, three years early.
A perfect time to renationalise a railway - pity Corbyn's not in power.