If one watches the board meetings one can see they have acknowledged some of their mistakes, mainly that they didn't get their ducks in a row before beginning construction. Of course they were/are over a barrel in that they must spend the federal money and then the matching state funds by a fixed date or they must return the cash. This is why they proposed laying track in five mile increments if necessary. They don't think it is a good idea, but if they must, they must.

This gets the initial operating segment done. With the remaining funds they are arranging ducks:
Finish the two remaining lawsuits.
Complete the EIRs for the entire route from San Francisco to Anaheim.
Hold a bunch of public meetings as required.
Choose the final route.
Purchase land for the route and take legal actions as required.

All of this takes time and time may put things in a more favorable environment. Years after COVID-19, after Trump and after the recession we are probably entering.

I make no claims that all of this will work, but then I am not on the board.