Kinda, yes, but also, no, I expected better journalism from Le Monde? This is a bit heavy on extremist right-wing's talking points.

DB is a case of "kaputtgespart" (austered into brokenness), and pretty much all people I (German) know consider it either a result of failed privatization, or just privatization in general. They were squeezing it as tight as they could, in the hopes of throwing it public for good money. Except it never got there. And now we're dealing with the results of that.

At minimum the track part (they keep renaming themselves, I think it's DB InfraGO currently?) needs to be 100% renationalized.