I think any look at B.C. Ferries has to go beyond what they are doing and into the opportunity cost of what they are not doing.
They have an unsustainable business model that cannot be fixed by raising fares and cutting service.
Maybe each of the Gulf Islands could fund their own ferry through property taxes. Each island could decide its own level or service and price.
They would get the service they want at probably no more than they pay now. They could buy a ferry and run it, or contract to B.C. Ferries or anyone else they choose.
They could run passenger-only ferries from the mainland to Vancouver Island on an hourly basis for far less money and get some of the business back from the airlines.
Vehicle ferries could be less frequent.
They could merge B.C. Transit with B.C. Ferries to reduce overhead and run more efficiently.
It is not time for minor adjustments to a failed company, it is time to debate big ideas that have a potential to fix the problem.