I think it's delusional because a neighborhood spur light rail line in Seattle costs about 1/10 of that (and takes about the same amount of forecasted time).
Uhh, we just approved $54 Billion for Sound Transit 3, which adds 62 miles of rail spanning from Everett to Tacoma, so no, light rail isn't dirt cheap. It is very effective at moving people cheaply though, and is a big economic boon to this city.
Going from Capital Hill to UW in under 5 minutes on the train, versus a 10 to 20 minute drive is amazing!
Seconded! Here in Kansas City we just completed our first downtown light rail. And they are already discussing plans to expand it. It's been such a great new mode of transport for visitors and locals. I think most of us couldn't have been happier with it now that it's done.