Had a very quiet journey on a GWR Cardiff to Bristol earlier on in the day despite it having ran out of reservation quota and no tickets being available... only 3 other people in the coach (5 car turbo 2+3 formation for reference.) Return journey in the evening again on GWR 3 coach Turbo slightly busier but still only one person in a bay (of 6 facing or 4 facing.)
I was expecting the morning service to be much busier if no reservations were available at all, especially as it was the first "off peak" service from Cardiff to Portsmouth over a bank holiday. Not a hopeful sign of a rise in passenger numbers.
Or incompetent yield management !