All ferries are expensive and all public transportation is subsidized.  

The Algiers ferry costs $3.1 M per year to operate, providing transportation for 1.1 M pedestrians and 175,000 vehicles.. The Gretna / Canal St. crossing costs $3M to operate with the lowest ridership of 85,000. THe Chalmette route has primarily vehicular traffic, costs $4.4M year and carries 500,000 vehicles and 10,000 pedestrians. 
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At operating costs of around $600 per hour, the operating costs for the New Orleans ferries are in line with those of privately operated systems.

Transportation

If the ferries were to be discontinued, one million pedestrians who regularly take the Algiers Ferry would have to find alternative
transportation to work and play. For those who chose to continue living on the West Bank, their transportation options to the East Bank would be limited to: (a) driving; (b) taking the bus or (c) staying home.
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If all commuters chose the Drive Option, it would place 5,000 to 7,000 additional cars on the Crescent City Connection each day. As the bridge is already running to capacity, this would result in increased drive times, additional accidents and increased incidents of road rage. 
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Many low-income service workers would be forced to buy cars in order to get to work. Those who could afford only “clunkers” might not be able to afford insurance as well. This would result in more breakdowns on the bridge and an increased volume of accidents involving uninsured motorists.  
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If all commuters chose the Bus Option, it would take eight buses(50 seats each) lined up each half hour at the ferry terminals during commute hours. Since the buses could not make a half hour turn-around time, it would take a total of sixteen buses per hour to get commuters to work in the morning. 
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With increased travel time and expense, many minimum-wage ferry commuters will simply no longer be able to go to work. For them, the Stay Home Option would equate to increased numbers on the welfare rolls.  

Real Estate

Algiers Point real estate would plummet as bridge traffic increases, while quality of life diminishes and homeowners and renters alike defect to the East Bank in frustration. 
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East Bank rental income would become scarcer while rentals sat empty on the West Bank.   

Quality of Life

West Bankers would no longer be able to partake in leisure-time activities in the French Quarter and CBD.  
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Bicyclists and scooter riders would have NO access to the French Quarter and CBD. They would be forced to move to higher priced housing on the East Bank or be isolated within biking distance on the West Bank. 
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Many inclined to occasionally imbibe would continue to do so but without a safe ferry ride home, they would instead cross the bridge in an inebriated state. 
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Steep parking fees and decreased on-street parking will turn a night out into a far less pleasant and affordable experience for EVERYONE as West Bankers compete with East Bankers for spots. 

Economic Development

Without the vital connection to the French Quarter that the ferry affords, Algiers Point Bed and Breakfasts would be totally out of business.
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Algiers Point businesses would flounder as the neighborhood empties of residents who choose to move to the East Bank. 
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Algiers Point businesses would suffer as tourists are no longer inclined to cross the river. 
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Festivals like French Quarterfest, Jazzfest, Mardi Gras and Gretnafest would suffer in attendance without adequate access to transport thousands of West Bank festival-goers.