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Mostly the bus/coach is cheaper than the train, for passes as well as for point to point tickets. But there are many more trains each day than there are buses. On the popular routes you may have choice of 5 bus departures per day against hourly trains, on less popular routes it may go down to one overnight bus (that is sitting up,) against 5 or more trains, and for many out fo the way places you will have to combine long distance bus with local trains or local buses.

Besides, trains are mostly way more comfortable than buses, and I think also more reliable in following their time table.

There is also the option of flying, but for cheap prices for that you will have to book three months in advance. Point to point tickets for trains are often also sold early, so if you can book three months ahead you will find more cheap options than when you book three weeks ahead, and three days ahead you will often just find full price options, (but it might still pay off to book early even when it is just a few days, there might be cheap tickets left.)

When you travel with a pass you can often wait longer to book, as it is just seat reservations, but for many trains there is a limited number of seats available for rail passes, and when those are gone you have to change plans or pay for a train ticket.

Rail is the best way to travel in Europe. Many countries, such as France do not have intercity bus systems, but their rail system is fast,clean, and efficient. And you'll find that most countries, the Western European ones anyway, also have great national rail services.

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rail