Why cannot we have a renationalised railway
Oh please, not this old chestnut again!
Let's bear in mind that most (although admittedly not all) of this so-called "morass of insanity" was inherited direct from
BR▸ with many different ticket types, differing time restrictions, different rates per mile depending on whether the journey was priced by Intercity, Network Southeast or Regional Railways etc etc etc. Although actually now we've largely moved away from advance tickets with various different names promoted by different
TOCs▸ (although by definition they will generally be valid only for use on a particular operator) we're not actually that far away from where BR left off again.
I know there are a lot of (misled...?) idealists out there who seem to believe that all the problems the current railway has would be solved overnight by renationalization, but I really don't agree with that argument at all. No doubt many of them are from the "grass is always greener on the other side" posse who complained incessantly about what a mess BR was when it was in existence.
From a quick look in the fares manual, D, all you're quoting here is the difference between the off-peak return for the journey and advance tickets (GBP 163 vice GBP 50ish depending on the combination that's available).
Exactly the same situation would have existed under BR, with Saver, Supersaver SuperAdvance and
Apex▸ tickets available for that journey. The GBP163 fare has no time real time restrictions (any train after 0415) and for a journey of that length, for a fully flexible ticket with no advance booking requirement I would say it represents fairly good value. To be able to make that journey for GBP 50 is an incredible bargain. Let's face it, in the real world, you're not going to be able to travel from Wick to Penzance at the drop of a hat for GBP 20 so to expect to be able to travel very long distances for almost no money isn't realistic.