Public programs like MTA aren't measured in making profit. It's measured in making people's lives easier. And it totally does that. Not to mention, it brings in revenue to the areas around it (like bars and restaurants). And it would do that for Columbus as well. I think it would be great (not to metion a safee option) after getting loaded at the Shoe for a game, I could catch a train back home in Grandview or UA or Clintonville, etc.
Will it cost money? Of course. It's up to the people to decide if they are willing to spend the money on it. Just remember, sidewalks cost money. So do public roads. So does having a standing military. It's just a matter if people want the option of having a rail system set up in Columbus.