To be fair, I think a lot of the benefits of public transit go to people who aren't even using it. When you make it easier to go somewhere, more people will go there which is good for business at that somewhere. There are also the benefits of reduced traffic for those who do end up driving.
Yes. Although my argument would be slightly different. Subsidizing public transit in many cases is cheaper than upgrading roads. There is also social element. Elders & kids, disabled, DUI crowd… Public transit helps a lot to engage them.