Yes. Though compare to the 3-stop subway, which was then forecast to be 120,000 or so a day. Boy, the extra cost for that extra 60,000 is no where near 3 billion - though part of this is fixing errors in the earlier analysis.
And compare the 7-stop LRT. That was about 100,000 riders a day. Or Eglinton East, which is now out the window, funding wise - about 46,000 a day.
So 62,000 for subway, compared to 146,000 if we went with the LRT plan. Though we could probably fund Sheppard East LRT in the same envelope (ignoring that it is fully funded). That's. coincidentally another 46,000 a day according to Metrolinx. So 192.000 riders compared to 62,000.
What about number of stops. Subway gives us 1 stop.
We could build Eglinton East, Sheppard East, the 7-stop SRT replacement, and probably add a stop in Malvern Town Centre for all this money. That's 57 stops. What a waste ... someone must hate Scarborough!