Red tape was not the issue, really, it was lack of funding, known at the start of this, by everyone. High speed rail is very expensive, everywhere, that's why it doesn't exist here. Only national governments can "afford" to build it, and then subsidize it so rates are not stratospheric. The French TGV was built by government, operated by government, and subsidized heavily, there is no economics that works otherwise. Americans ride it once or twice and think "Why don't we have this?".
Sure thing, pony up, many billions. A private company is constructing "Brightline" in Florida, it runs at 125 mph on specific stretches of track. I hope it works for them, I would not invest in the project at all. Americans prefer personal transportation despite the expense.