Waymo is subsidized. They operate vehicles without paying for the cost of the road, land, or surrounding parking.

That's like owning a train system and not paying for the tracks. Yeah... that's a huge part of it.

There's also indirect subsidies, for example the cost of land and housing. Cars are extremely space inefficient, so they encourage poor urban design that results in huge amounts of land wasted.

Well... the land and property that's left is then inflated in price. You could consider that cost difference as a subsidy to all drivers.