All eyes were on Governor Cuomo when he celebrated the opening of the Second Avenue Subway in December 2016. Dennis Van Tine/AP Images

When the calendar flipped from 2016 to 2017, Governor Cuomo rode the subway. As you may recall, this was no ordinary subway trip: It was the inaugural run of the Q along its new route, down from the 96th Street terminus of the shiny, new Second Avenue Subway. You know, a ribbon cutting. Our governor loves ribbon cuttings.

With last week’s release of station-by-station ridership figures for 2017, we can finally learn the impact this long-awaited subway extension had on the system. As it turns out, the Second Avenue Subway is undoubtedly a benefit, but at $4.5 billion for just the three stations built so far, a very expensive one. And the stats also tell us much more about the problem the line was built to solve — and raise the question of whether that $4.5 billion would have been better spent elsewhere.

The Second Avenue Subway’s primary reason for existence was to lighten the load on the overburdened 4/5/6 Lexington Avenue line, the busiest subway corridor in North America after the Second and Third Avenue Els were torn down mid-century. This was a worthy goal, and to some degree, the new line accomplished this: The five Lexington Avenue stops closest to the subway extension — 96th Street, 86th Street, 77th Street, 68th Street–Hunter College, and Lexington Avenue–59th Street — saw 17,377,828 fewer swipes into those stations last year, or about 47,600 per day.

Meanwhile, the three new Second Avenue Subway stations experienced almost 21.7 million trips last year, or just a hair shy of 60,000 per day. After factoring in large ridership changes at other nearby stations — the Lexington Avenue–63th Street F/Q station saw a 1.3 million bump in trips, while the Fifth Avenue–59th Street N/R/W had 560,000 fewer — the total change in ridership after the Second Avenue line opened nets out to just a hair more than 5 million additional subway riders in 2017, or about 14,000 per day.

This is greater than officials projected in terms of ridership gained: MTA planners didn’t expect much new ridership from the Second Avenue Subway, knowing that it’s only two blocks from an existing subway. But in the grand scheme of New York City transit, it’s a pretty low number; it’s about the same number of riders who take the B36 bus between Coney Island and Sheepshead Bay each day.

But since construction began on the Second Avenue Subway in 2009, the subway’s performance has steadily declined to the point where it is now in crisis. The Second Avenue Subway’s opening was a short-lived respite of good news from the otherwise constant barrage of nightmarish headlines. State of Emergency, Subway Action Plan, declining performance, you know the rest.

At best, the Second Avenue Subway is the lone bright spot in an otherwise concerning trend of declining public transit ridership. Even with the increase in ridership on the Upper East Side thanks to the Second Avenue Subway, Manhattan still lost 10,821,930 subway trips last year. This ridership drop is almost certainly due to the increasingly poor service, which itself is a result of maintenance backlogs, antiquated technologies, and questionable management decisions.

As I have previously reported, while tunnel-boring machines were grinding their way underneath Second Avenue to relieve the 4/5/6, the MTA was installing unnecessary signal timers on the Lexington line that ended up reducing its capacity. The New York Times later found that in June and July of last year, during the average weekday rush hour window, 57 scheduled trains on the 4/5/6 simply do not run. Those ghost trains alone could have fit the number of riders who switched to taking the Second Avenue Subway.

Indeed, at the time the MTA was justifying the Second Avenue Subway, one of the key words involved was “overcrowding” — as in, crowding on the 4/5/6 was causing delays, and the only feasible way to address that was to build the Second Avenue line. This was the prevailing logic in 2009, and even for much of 2017 after the Second Avenue Subway was completed. Yet the new transit chief, Andy Byford, has since declared overcrowding is not, and never has been, the root cause of delays. Overcrowding is the result of delays, not the cause.

We know now that the Second Avenue Subway could not possibly have been the most cost-effective way to relieve crowding on the Lexington Avenue line. That would be upgrading the signals to Communications-Based Train Control, or CBTC. One of the first lines Byford wants to tackle is, in fact, the 4/5/6 from 149th Street–Grand Concourse in the Bronx to Nevins Street in Brooklyn. Doing so would allow the MTA to run trains much more efficiently, increase capacity, and turn those ghost trains into real trains.

This project alone would provide a benefit to Lexington Avenue line orders of magnitude greater than the Second Avenue Subway for a fraction of the cost. (Re-signaling the Queens Boulevard line from Kew Gardens–Union Turnpike to 50th Street is expected to cost $425 million; the Eighth Avenue line from 59th Street to High Street has a preliminary estimate of $375 million.) But the main holdup for Byford’s plan is he needs the money. Oh, if only he could have, say, $4.5 billion available, enough to upgrade most of the subway system to CBTC.

Most transit experts will tell you that thanks to decades of apathy the subway needs to build extensions and rapidly upgrade its existing infrastructure. No disagreement here; the best version of New York City is one where we can do both. But, as the last several decades and Byford’s ongoing efforts to secure funding illustrate, that isn’t the New York we have. Instead, the MTA is working on scraping together $6 billion for Phase II of the Second Avenue Subway, which will take it up to 125th Street — at that price tag, the MTA could almost certainly re-signal the entire subway system. The question isn’t why the Upper East Side can’t have nice things, but why, with so many dire, urgent needs across the system, the Upper East Side should be disproportionate benefactors.

In any case, the Second Avenue Subway extension has now been built, so we must do our best to enjoy it. The people who used to have a fifteen-minute walk to the subway but now have a mere ten-minute walk must savor those precious moments. The straphangers still taking the 4/5/6 ought to bask in the extra space they now have. Take an extra second to enjoy the world-class art in the new stations. Somebody has to, because Governor Cuomo won’t. He hasn’t ridden the subway since. After all, there haven’t been any ribbon cuttings.