I would have to see some line by line statistics to accept how 'heavy' these losses are, particularly for a modern electrified service with unstaffed stations.
If Greater Manchester want to spend money to make a difference, they should be ensuring that areas which don't currently have access to rail such as Heywood or Leigh, are connected to either rail or tram.
Urban/suburban rail isn't just about raw profitability, it's about the social and economic benefit of connectivity between housing areas and places of employment. This is through both journey time and service frequency.
Taking both Atherton and Glossop, both areas would see benefits from moving towards 4 trains/trams per hour, no matter how this is achieved.
Possibly fairer to compare a modern tram with a modern electric train of similar capacity to the tram?