In what ways would
a. substitution of LR for HR in general (as opposed to electrifying HR routes and increasing frequencies, which as has been pointed out repeatedly, is entirely possible in south Wales, some of the money enabling this havig already been spent)
b. anything actually proposed as part of thr South Wales Metro (see map previously posted for realistic likely extent, rather than your own unevidenced suppositions)
actually bring about a service which the average passenger is likely to consider better? That's BETTER, not cheaper.
Clearly, your view is that there is no actual reason to listen to public transport users, or anyone else, and that it is more desirable for politicians to impose whatever suits them, than what people actually want. However, have you considered that, if you igbore people's expressed choices re pu lic transport, they will express their choice in different ways, by DRIVING EVERYWHERE instead of using public transport? Do the lower upfront costs of your Kwik Save standard public transport thereby achieve a more efficient overall result?
People want transport which is cheap and quick. HR by definition will be more expensive than LR. That means it can't be as cheap, with all else being the same. Either fares have to be higher, or there has to be more government subsidy. Unlike what some people seem to think, I don't think government subsidy is bad, because there are lots of societal benefits from public transport which aren't fully captured by government today. That's why I bring up Land Value Tax - it is uniquely able to capture all benefits that public transport investment can provide. When the total captured benefit of LR will be as high, or higher, than HR while costs are lower, there is no justifiable economic reason to go for HR. Going for HR at that point is explicitly about wanting to waste money which could be better spent on other needy causes.
Whether you like it or not, 25kV AC electrification of the Valleys is going to cost a lot more money than LR conversion. When that's the case, there really isn't much you can do. It doesn't matter if the Welsh Government could buy the entire 315 fleet for £1 if it'll cost hundreds of millions of pounds more to make them move. The only way you can justify spending more on HR electrification is if it'll be able to provide more benefit than an alternative. 750V DC LR electrification and doubled-up 100m long LR trains will do just as much good, for less money.
Money influences everything, because while it is possible to do pretty much anything, it isn't possible to do everything at any reasonable cost. If you reject this, then there's no point debating.
There's an obsession in this thread with the maximum possible capacity of HR trains versus presumed LR trains. There seems to be a belief that adding more seats absolutely means more benefits. That is true when services are busy, and it is true that more seats will increase ticket revenue when there's suppressed demand. What is also true, and much more important for the economics, is the capacity over the entire day. All that infrastructure and all those vehicles you might want to shift peak loads have to continue existing outside of the peak, costing money. You can't buy a train for only three hours' use each day at the time when everyone else wants one too. If you optimise for peak capacity, you are unoptimised most of the time.
What does this mean for passengers? Once everyone who might use a train is on it and has space to sit, there is no benefit in providing additional seating beyond this. Unless there's significant suppressed demand, additional seating will not result in higher ticket revenues. More seats will not make peoples' lives better. What will make people's lives better is having more services. Going from 2tph to 4tph, or 4tph to 6tph, or 6tph to 8tph, actually makes rail more useful for people. If you go from a 2tph service with a full-but-not-too-full 40m long train to a 4tph service, you will find a 30m long train will do the job. The frequency doubled, so total capacity could be kept the same by halving the train length. Since that extra frequency makes rail more attractive for prospective passengers, you then need to add a little more capacity on top. You will always do more good by increasing frequency and then reducing train lengths. The problems with higher frequencies and shorter trains only come about when there's no mechanism to start lengthening them again.
If you stick with HR, you can often increase frequency but you can't cut costs by enough to make shorter vehicles feasible. With high frequency, there are fewer passengers per train, so the fixed costs of that train are more important. Since there is not unlimited money, it is rather hard to justify massively excess capacity to keep frequencies high. Outside of peak periods HR means going down to low frequencies, meaning worse services for passengers. Sure, you can make each train slightly longer, but people want good frequency and enough capacity, not poor frequency but an excess of capacity. All your expensive infrastructure gets used for less and less. Services can't run as early, nor as late. In the evenings and weekends branches get a minimal service, rather than the one which will be best for them.
Remember that the people who use the Valley Lines are also the people who would be subsidising any HR service, via their taxes. They will only accept this subsidy if they can see a clear benefit as a result. If the benefit consists only of providing huge amounts of empty seats and jobs for guards on off-peak services, then they're not going to be happy. Even when they like the idea of public spending, they would rather that money is spent on any number of other issues like health or education. There is always going to be a useful way to spend taxpayer's money. Just spending money for the sake of 'high investment' doesn't help anyone at all.