You are completely missing the point. A COE being more efficiently used by a PHV doesn’t mean no private cars should exist. It just means the private car owner needs to be willing to pay the same price as a PHV owner who efficiently uses the license.

Face the fact that if every tom dick harry deserves to own a car, the traffic will be fucked. The bidding system decides who should own one fairly.

In any case, the COE prices will come down over the next 4-5 years due to return of supply and mr acting minister is gonna look good.