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If dudes could conquer the Rockies with picks, shovels and black powder, the only reason we don't do this stuff is because we don't want to.
Yes, they did this because profits could be made. In today's world passenger rail is not profitable outside of a few very dense corridors. Private industry has no incentive to do it without significant public subsidies. I could easily go on a political rant about what we do deem worthy of large public subsidies, but I will restrain myself.
America spends money on the military that other nations spend on fast trains. Personally, I like that America has a strong, well funded military and slow passenger trains... I sleep better at night knowing we are protected by the benevolent might of the US. Fast trains, could care less.