Not really. Maglev isn't a pipedream. The Transrapid is a fully functional technology that could be built anytime. It has never been done (as intercity line), mainly because the Chinese made the decision to stick with traditional HSR technology after building a fully functioning (and reliably working for already 20 years) Transrapid demonstration system to the Shanghai airport. I do agree that it was the right call for China, but not because Transrapid is a pipedream, rather that traditional HSR is more efficient financially. What I am still scratching my head over though is that Germany was so short sighted to first develop a fully functional mature technoloy and then being so stingy to not even build a demonstration corridor over a few millions being saved. In my opinion it was a mistake not to build the Hamburg-Berlin corridor back in the day. Yes, it would have been more expensive but it would have been a unique thing certainly drawing crowds on its own, beside giving a rapid intercity connection that would have worked reliably.

For a manageable premium in costs, it should be totally possible to build a proper intercity Transrapid corridor. At speeds beyond 350 km/h it could be reasonable, except that Maglev doesn't solve the air resistance issue, which is the reason why no one has really pushed beyond 400 km/h yet.

The Transrapid isn't done though. China has decided to build the first generation HSR network traditionally, but they are developing Maglev for future implementations, based on their Transrapid experience. The image above is from their current prototype of a next generation Transrapid based maglev.