LZ - I hear what you are saying, BUT!
Phase 2 is unlikely to ever get built. Even HS2 Ltd accept that Phase 1 is the endgame.
A gauge has not yet been determined for HS2 Phase 1, although (at the time of consultation) it was going to be unique, preventing it from running on other lines, HS1 and crossrail included. It also was unlikely to run on the rails beyond Litchfield, which kind of makes the "non stop from Mancs" etc a bit of a porkie, affecting the non-stop times they claim. There was talk of a hybrid system, but BR have a poor record in getting these things to work.
I asked, to save development costs, as it was to be a different gauge to UK, why they didn't go for an off-the-shelf gauge from one of the European ones, but it wasn't "suitable", with no further reasoning/explanation.
Lets assume it will be 4 years late, not unreasonable, so 2030. Business meetings will likely be a thing of the past, as technology takes over. Most office based workers will become home workers. Those needing to travel regularly will be those needing to be in a specific location to do their job - factory workers, retail workers (if retail still exists), nurses and so on. These are the people who won't be able to afford to use the service. Although if you look at HS2 specifically, unless to live in central Brum, or in London, and work in the other, its actually of no use whatsoever. WCML and Chiltern provide a much more useful service by stopping at locations on route. And yet, provide services that aren't that much longer timewise (and thats assuming you live at one terminus, and work at the other).
HS2 will not be used for freight. Its design will prohibit it anyway.
As to railways making a profit, they never will. Even now, all fares are sibsidised by around 50% by those of use who don't/can't use the railways. HS2 will be similar (or need even more subsidy), not including the cost of building, yet will be usable by even fewer people.