No, it's not
"desperately needed." What is available now is working. People (especially politicians and those who stand to get rich from this) get all starry-eyed over "high-speed rail" and don't seem to be too concerned about the cost. Make no mistake, this will cost far more than they are saying and promise far less. Most things government gets involved with end up like that.
Anytime something is "desperately needed," shortcuts are taken and we end up with something less than we wanted. Maybe it can work, but there has to be a better way to do it. Maybe if proponents of such things would stop trying to demonize private transportation (cars) and try to sell it on its merits? And why does government always have to be involved? Taxpayers just get milked that way and we are out of money.
You can bet if this gets built that TSA will eventually be involved. Now you can get molested before getting on the train as well.