It's not the privatisation per se. It is the privatisation accompanied by a lot of other circumstances bringing the worst of public and private businesses to the table. The main problem is that DB is a private company that is incentivised to let the infrastructure rot. The solution is actually pretty easy: split up the company, return infrastructure to public hand, and open up the operations to fair competition. Flixbus showed how competition absolutely decimates prices even in transport business.
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