Isn't this a case of people glorifying the past? Are there objective metrics that demonstrate service quality has degraded (reduced train frequency, reduced amount of seats, etc...)?
I live in the SF Bay Area where we have a Muni "subway", if you can even call it reminiscent of one and BART. They're both absolutely awful, between not having good/expansive coverage/timely service. A plethora of issues plague both.
Both times I visited NYC this year I took the subway everywhere. Out of probably 40-50 subway rides, only a handful were delayed either in-tunnel or while I was waiting in the station; the trains were pretty much all clean without odd (read: nasty) smells. And, of course, the routes go all over Manhattan rather than just through, say, Lexington or Park Ave (like how SF's Muni basically converges and mainlines under Market St.).
I found NYC's subway a pleasant improvement. Yet I keep seeing articles about how it needs to be fixed.
Just interesting to spectate as an outsider.
If that was even remotely true then France would the most active center in the world in terms of business creation. I hate to break the news for you, but it isn't.