Light rail can be very successful given enough important stops and population density.
The Hiawatha line in Minneapolis is stellar success connecting two airport terminals, the Mall of America[[biggest shopping mall in US), the U of MN [[40,000 students), and downtown all in 12.3 miles with 19 stops. Except at both ends of the route, stops are about a mile apart. There is gradual residential and commercial development near its stops other wise, as you point out, the walks can be long. However, stops are at busy intersections served by transfer busses.