Wealth makes no difference to your capacity to pay for services if that wealth is tied up in property. So I assume you mean pensioners with good incomes, over and above the state pension. Those pensioners, flush with cash from good pension arrangements/investment portfolios, will be paying their fair share of tax. If some of them use subsidised transport services, and don't really need the financial help, well, they will be paying tax, and sometimes that's the price of not cutting services to the bone.
Subsidised bus passes help people who otherwise wouldn't be able to afford it, to get to appointments, to visit places and friends, have a social life, maybe volunteer and carry on contributing to their community, or assist with childcare for grandchildren. The benefits for physical and mental health are well-documented. They make providers of services have to think about access for users that might be less mobile, which benefits everyone. They make public transport and public places more diverse - I find it comforting, as a 50-something woman, not to get onto a bus wholly occupied by loud young people!
PP have also mentioned keeping at least some cars off the roads, and giving people a safe option if they shouldn't really be driving any longer. My father really should have stopped driving long before he finally did, and his bus pass meant that a lot of his journeys were done by public transport, keeping him and the public safer!
I don't think you've really thought it through, OP.