Environmental clearance was known to be quicker there, which met the priority for shovel-ready projects in federal funding being distributed as part of the 2009 stimulus, and the fact that it was in a more economically precarious part of the state was also in line with the funding concerns. It didn’t hurt with the state or federal politics of funding that that was in a more Republican area of the state, either. At the same time, the Bay Area and LA basin were getting a lot of the initial investment for “bookend” projects to improve existing transit systems both for the independent value that produces and as eventual HSR feeder systems.
Sac to Stockton was never even part of the Phase I plan anyway, but part of the distant idea of a Phase II extension after the SF-LA run was complete that would add Sacramento and San Diego.
The new Caltrain service should be faster and more reliable, so even if HSR is never completed, the Bay Area will get a nice upgrade in its regional rail system.