The strip is basically a walking area like a theme park, except that it’s cut down the middle by an eight lane road and supplemented with overpasses. Cars get priority over people, who ironically mostly don’t have a car while they’re on vacation in Vegas.
This is an avenue that’s already served by frequent double decker buses. The ridership volume is there at least for a light rail tram system.
Let’s say I’m staying at circus circus and I’m seeing a show at the MGM grand.
It’s an hour walk, 24 minute bus ride plus the wait for the bus (15 minutes divided by 2 on average), or a 12 minute drive.
The Vegas monorail exists but it isn’t anywhere near the actual street where the pedestrians are, and the station locations are so far from where you want to be that you might as well walk.
Therefore, if I’m a typical tourist I’m taking an Uber or a taxi for this trip.
That’s why the strip has so many lanes of traffic. I’m incentivized to get in a car and I haven’t even left the “theme park” boundaries.