I agree that the potential of the North-South Loco services isn't anywhere near utilised to the potential, and is if anything another WG vanity project. I'm surprised WG kept funding Gerald with the Valley - Cardiff Airport costing over £1m a year in subsidies. In a time when all governments should be cutting back, it should be either or. The flight provides decent times for the AM's.
Gerald in itself is as people have said, more of a commuter train for many and the loco provides the capacity needed for peak times.
In contrast the 0730 (ish) Chester - Manchester loco is often rammed. I've seen it when just one coach is locked out of use for whatever reason and people have been standing. What TfW has needed before, and probably need in the future after this covid business, is capacity. The locos are ideal for this, with the north wales loco being pretty well utilised to/from Manchester, but the North-South not utilised in the best way.
Slightly off topic but in many discussions people often talk about 230's and 769's replacing pacers and there being a mismatch between units introduced against those being replaced, but it's often forgotten about that the locos will free up at least 3 units, possibly more if 175's/158's are doubled up to match the loco capacity.