Well that would almost certainly be competitive with a car over the same drive ... But not remotely competitive with a plane. But I can't imagine trains ever will be competitive with planes, even over 100 miles, if you don't factor in emissions.
California has been "getting high speed rail" for almost thirty years now. Construction started about nine years ago and is a much more scaled back "first segment" that connects a few smallish cities. As much as I want this project to succeed it seems to be a boondoggle. I sincerely hope it makes it through the bureaucracy.