I guess the thing that really throws me off is the lack of capacity (or even the potential capacity).

If I read it right, each tunnel can handle traffic in one direction at a time, in a human driven vehicle with the capacity of, let's say 4 passengers. So say you formed a caravan of 10 of those all going in one direction. that's 40 people using a tunnel for 4-6 minutes with NO people going in the opposite direction.

How does that scale up to thousands of people per hour?

For all the downsides of the monorail, at least it moves all the time with way larger capacities.

And rumors of it's death are premature apparently: https://www.reuters.com/fact-check/las-vegas-monorail-says-it-is-not-ending-operations-response-closure-claims-2024-04-12/

When they built it, they should have used eminent domain, built it right down the middle of the Strip, extended it to the airport and Fremont street with a branch off to the convention center and you would have New York City Subway volumes on it.