You clearly have not experienced the service of BC transit, the company that manages the rest of the province. If you like buses that barely run on Sundays, often don't show up, and routes that seem haphazard, BC Transit is for you.
Do not replace them remove them. Bus drivers know how to drive busses and they would still know how to drive busses if they were employed by the City of Vancouver or any other city. WE do not need a whole other level of government just for transit.
That won't happen without taking more of people's pay through higher income tax, higher sales tax, or all residents paying a new tax, to cover the cost of it.
And being a private corporation, if their money is taken they could shut down Translink and go out out of business. As long as it has private ownership, they can cancel all transit services anytime they want if the money is cancelled.
No government legislation can stop a private business from shutting down. Transit will only be free by raising everybody's taxes to take more of everybody's money, as I said through higher sales taxes and/or higher income taxes for all people.
That is a reflection of your lifestyle. It will never happen. Life is a lot better owning a vehicle. Married families with careers owning 2 vehicles. Between work, shopping, needing to get around town due to obligations outside of work, transit is not an option. Try arguing that everyone must use transit when you are raising 3 or 4 children.