It's cheap relative to a walk-on flight fare, but not to a well-planned one.
From memory, there were no single fares before 2004 and Rail & Sail would have been competitive only if bought as a return fare. Trouble is, with fewer fast ferry sailings out of Dublin / Dun Laoghaire, finding appropriate sailings to both leave and arrive at your destination at the time of your choosing and without a long wait in Holyhead in both directions is difficult. So for practical reasons, maybe some Rail & Sail passengers get a single and come back by air.
Bring back an early morning sailing from Dublin / Dun Laoghaire and a later evening one from Holyhead!
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