In the 1980's Sheffield city (4th largest city in the uk) had bus fares at 5p 10p and double that after midnight. with the late buses leaving the city centre a little after 2 am , the clubs closed at 2am.
In the morning rush it might be the third bus that came past that you would catch. The first 2 being full already but that'd mean you had been at the bus stop for 10 minutes. 3 services going to different parts on the out skirts the routes converged and each service running every 10 minutes at peak times .
It worked well, because the buses were cheap people found them more economical than driving to work and parking all day. Because there were less cars on the road traffic flowed, the bus journey was quick, without holdups. Because regular folk used them, they were safe and clean. If you were a smoker, you had to ride on the top deck (yes smoking on public transport, seats were nicer downstairs). There was even kneeling buses which lowered the bus so wheel chair users and mothers with buggies could get on and off easily. The buses were subsidized but to everyones advantage, and 2 sets of doors get on and pay at the front get off via the side door, no waiting for people to get off before you could get on max 88 passengers. oh and the routes ran across the city centre to the opposite side, + circular buses that ran the outer ring road.
Then maggie forced the council to stop subsidising buses and opened up the routes to competition.
The rise in fares resulted in more car's commuting in. the deregulation resulted in over provision on popular routes and under provision for less popular routes. traffic jams with a large number of near empty buses with journeys taking longer to complete.
so done well everyone benefits and gets home quickly. done badly well bigger roads were needed but not budgeted for.