As an example of where this could lead (if the railroads themselves were improved, which is a key thing present in Europe wrt HSR lines vs. US with none), look at Italy. Privately operated HSR (moderate HS, not full-blown TGV) sharing tracks with State-operated HSR and conventional passenger. Of course, as with elsewhere in Europe, freight is only a minor piece of the picture, unlike the US where it's the reverse. Still - Italy actually can make trains run on time (even without Mussolini in the picture).