You’ve missed the point of why they’re building the SRL. It isn’t just a transport project, it’s about reshaping the urban form altogether. The aim is to create multiple business districts in the middle suburbs, based off of nearby infrastructure like universities, hospitals and the airport. If that’s successful, then in future the CBD won’t be where the majority of people using trains work, there will be no majority destination because the jobs will be better distributed and people will be going in all directions.
There’s little point in building it with a low capacity mode, because if they realise their aim, they will get the problem Brisbane has run into with busways - the infrastructure gets overcrowded, and it becomes harder to increase available capacity. In addition, there is no surface corridor available for a line like that. Whatever the mode, it has to be tunnelled at great cost. And if a great cost is being incurred anyway, why bother with BRT? The marginal benefit of a large increase in passenger capacity is greater than the marginal cost of building a slightly bigger tunnel and installing rails and overhead wires.
Think Tokyo where the centre of the city is certainly a big magnet for employment, but there are multiple business districts outside of it with incredibly busy train station precincts like Shinjuku, Shinagawa and Ueno. Did they link them up with a low capacity mode of public transport? No, they built the Yamanote line for that, and it’s not just one of the busiest lines in the city, it’s basically the backbone of their network. Those stations I mentioned are also hubs for regional trains, which on a smaller scale is also the plan for Clayton, Sunshine and Broadmeadows. This will declutter Flinders Street and Southern Cross a little.
Are there legitimate criticisms of the project? Sure. It was prioritised over more urgent short-term needs like the Melton and Wyndham Vale electrifications, likely for political reasons since the eastern suburbs have more marginal state electorates than the western suburbs do. And they might be building the platforms too short, and they might need more stations, and it sucks up a lot of funding. However, the project is still a good one. It shows a level of vision and forward planning that has never really existed before in Australia. And I doubt Queensland would ever show that much interest in urban development or public transport investment.

