Physical embeddedness and long-lived assets
Rail infrastructure is extraordinarily fixed. Track geometry, gradient, curve radius, and loading gauge are determined at the moment of construction and are expensive or impossible to alter subsequently. A railway is, in essence, a permanent commitment to a particular physical path through terrain.
This embeddedness gives rail networks their characteristic longevity, but it also constrains adaptation. New demand patterns, new vehicle technologies, and new safety requirements must all be accommodated within alignments designed for conditions that may have prevailed a century earlier. The asset stock is long-lived, but not always well-matched to current needs.