Specifically note "if it means the government will lose revenues". GO Transit is the best farebox return in North Am transit systems, but it's far from 'revenue neutral' in this regime's doublespeak. It's a revenue loser in their shuttered vision, now, and in the future.
Is it possible that Metrolinx in whole will be sold? Perhaps, it's more likely that limbs will be hacked off to sell as individual operations, including the plant, and Metrolinx is reformed into a transit *operator* only on private infrastructure that may or may not also run its own transit operations in lieu of Metrolinx doing so, but integral to ticketing.
Can that work? Absolutely, it works very well elsewhere. Can it work under this regime? Highly doubtful...it portends disaster.