Well, it's running on rubber tires across a concrete path - that's basically a bus. Mutli-cars make it a train.
(I know it's an honest question for what I stated but I feel like the Simpsons bit with: Mono=1 and rail=rail
)
Traditional rail is steel wheels on rail.
The thing that makes the Monorail neat is that the bus-part (the tires) are hidden and so it seems to just magically glide. It's basically an expensive, "on-rail" (can't go anywhere else) bus.
Take out the beams and replace them with single-lane roads/bridges for buses and, no, it's definitely not as sexy, but it makes a lot more practical sense.
I like the Monorail but, and I'll admit this is partly because they gave up on keeping it up: It feels very much like a Yesteryear technology.