Yes, privatisation has been terrible. As you can see in this ridership graph, it was so bad that ridership went down almost every year under BR ownership and doubled under private ownership.
There are some serious flaws in the system, but having different companies compete for contracts and profits inspires innovations such as new equipment, services, and on-board features that BR was just not willing to pursue, because why? They had no need.
Arguable the biggest success of BR, the HST 125, was seen as a temporary offering at the time that would be replaced by the APT that was just never to be.
Amtrak is proud to announce a new train to Florida that doesn't stink: The Floaterian. An all-star just like Babe Ruth.