It is, in Hong Kong, and massively so. The MTR there had to reduce fares temporarily... to avoid too big a profit. The real MTR strategy, though, is that they

It is, in Hong Kong, and massively so. The MTR there had to reduce fares temporarily... to avoid too big a profit. The real MTR strategy, though, is that they get to choose where stations go. That allows them to buy up land in the area, before they announce a train is going there. The land next to the train station suddenly skyrockets in value... and the MTR make out like bandits.