Why should the federal government be shedding money so that a couple of random farmers could have the option (that they don't particularly need nor want) to take the train into town every blue moon?
Maybe because we should actually try to get more people to use public transport?
Profit is not, and should not, be the only thing that matters as far as public transport, or other public services, go.
Why? Why not try to get more people to use them? Why not actually try to get less people using cars?
If we assume that the rosy picture of privatization being good for the railways is correct, then the Government will end up making an awful loss on them.
And if (as is more likely) they go to a group of asset-strippers, the Government will be buying back something that is in an even worse shape (in just about every way) than it is at the moment.