That can be how it works, but far from always. Consider Comcast as an example of an inefficient private business that has stuck around for a long time and looks

That can be how it works, but far from always. Consider Comcast as an example of an inefficient private business that has stuck around for a long time and looks set to continue to do so for some time yet. Conversely, publicly run businesses can be setup to run like private businesses that shutdown if they're not competing. This is especially the case if the public business co-exists with private businesses rather than replacing them.