As a user of the SBB (Swiss railways) for over 30 years I have had a few mishaps (canceled or late trains, bad connections, etc) but, by and large, I have been happy with what I paid for transportation. It is very reliable and convenient. Something like this could not have been pulled off by a private entity. The government has to run a service like this. I am glad that we did not follow the lead of the UK during Maggie T's time and begin privatizing bits and pieces of a functional system.
You say this could not have been pulled off by a private entity, but I would argue the Japanese train system is equal, if not better and to my knowledge is privately ran.