Not fair, not fair at all.
Why? The train fares increase, but it doesn't really improve anything unless you are going straight from a big city to another big city, and don't want to stop at any of the smaller stations.
Those that use the smaller stations, such as myself, will feel completely ripped off.
I use the Midland Mainline on a regular basis. The smaller stations, such as Wellingborough, Kettering, Bedford and Luton Airport, only have 1 train per hour to the North (to stations such as Leicester, Loughborough, Nottingham), and require a change at Leicester to places such as Sheffield, Derby, Lincoln etc. Luton customers have no through trains to the North (unless they want to go to Corby) and must change at Bedford, Wellingborough or Kettering to go further north.
On the journey south, the 1 through train per hour (departing Leicester at xx:32) is very busy, especially during peak periods, when standing room is the only option between Leicester - Kettering (at the very least). It is only 4 or 5 coaches long, and should be much longer to accommodate the amount of passengers that require this train. 1.5 coaches of this 5 coach allowance is "1st Class" - which is almost always nearly completely empty due to the inflated/ridiculous/ludicrous prices that are already being charged for 1st Class. (On a typical Wellingborough - Leicester journey, for a university student with a 16-25 railcard, 1st Class is 2.5 times the cost of a Standard Class ticket.)
Some of the interchanges are very poor currently - for example, anyone wishing to travel from Corby to north of Kettering (i.e. Mkt Harborough/Leicester/Nottingham etc) must wait for 58 minutes at Kettering. Similarly, travelling south, the connection time is very tight and any delays on the xx:32 (from Leicester) of over 6 minutes (by the time it reaches Kettering) results in a missed connection, and a comparable wait time.
Further, anyone wishing to travel from south of Market Harborough (except London, of course) to East Midlands Parkway has to wait for close to 40 minutes at Leicester. These wait times for connecting trains are very poor.
Oh, and let's not forget the fact that East Midlands Trains charge £4 per journey for Wi-Fi, and that you can't get a phone signal in the trains due to the reflective coating in the windows.
So, based on the above, is it fair that train tickets are going to go up again? Absolutely not - in fact, they should go DOWN, not up.