This analysis reeks of confirmation bias. You don't need one personal car for every 3 people if you were to comparing busses with self driving cars. You would have a fleet, just like you do with busses. Here is something posted a couple days ago:
https://www.npr.org/2022/07/19/1111765630/on-demand-shuttles...
15 minivans replaced 6 busses, at a cost of 1.6 million to 1.3 million per year - but with much better coverage than the busses.
Of course this equation will look very different in big cities where economies of scale from mass transit kick in, but hey, small cities need transit too.