I do wonder if First aren't good at Met style areas - Manchester and South Yorkshire as examples, except where effectively the Local Authorities tell them what to do, and pay for it: as in Leeds/Bristol/Glasgow, or the Heathrow Services around Slough. They are better away from competition and the challenge of congestion where resources (which they don't have) are less of an issue, witness the rest of West of England, and East Anglia, and probably their smaller bits in the Midlands/South, and scottish lowlands too. It really seems to me that First Bus don't actually much like buses which they are lumbered with, as a burden. The competition actually often seem to like running buses, and the enthusiasm shows - even if sometimes it's nauseating. I prefer it to First's robospeak any day! It's the difference between any of us; doing a job we want to, and one which we have to, reluctantly, just because we can't get out of it.
Arguably it does seem to me that whilst First say they concentrate investment where there is local authority support, the reverse is true too - criticise them, and they will run away; they don't have the fight.
Interesting argument - and I don't necessarily disagree.
A few years ago I'd have said that First were better at running "municipal" operations (Glasgow, Manchester, Leeds, Sheffield etc) whilst Stagecoach were better at the "commuter" market of linking towns to the nearest big city (looking at how they transformed the services from Ayrshire into Glasgow, from Fife into Edinburgh etc) and dealing with the "honeypot" operations in tourist traps where people must use buses because there are insufficient car parking spaces in Oxford/ Cambridge etc.
Look at how First scale back coach/express operations (Swansea - Cardiff, West Lothian - Glasgow etc) as a contrast. But also how Stagecoach didn't get on with the prescriptive London market (where they didn't get the opportunity to be entrepreneurial).
For those reasons, you could argue that it would have been more "natural" for First to run Busways in Newcastle/ Sunderland whilst Stagecoach ran the Northumbria/Northern General operations into these cities (for example). Similarly, Stagecoach seem a natural fit for York. Stagecoach to run East Yorkshire whilst First ran the main "city" stuff in Hull, that kind of thing.
But now, there's a clear hierarchy within First - they've got good relationships with authorities in Glasgow/ Leeds/ Bristol, so most investment goes through them. Previous "high profile" operations like Manchester and Sheffield are unwanted.
The problem is that I can only see the disparities getting worse, with some areas insisting on "clean air" zones and therefore other places having to put up with older vehicles (than they would otherwise have received, if it wasn't for the urgency to put the investment into flagship operations like Leeds.
Maybe there should be a separate thread - Fantasy Operator League - where you could nominate who would have been better to get which bit of the NBC/ SBG/ Municipals. For example, I would have thought PMT would have done a lot better under Stagecoach, given the potential inter-urban work and the poor local trains (until relatively recently).
(this begs the question, however, of "what are Arriva best at", and I'm not really sure!)