Lyft claims their cash on hand is around 1.4B so Uber just said the business (tech, staff, brand, and infrastructure) itself is about $600M or about 1% of its own valuation.
If your direct competitor told the press your company was worth $5... do you think that would mean it's really worth $5? Do you think they'd really believe that it's worth just $5, or do you think they might have an ulterior motive? Do you think a prospective investor or buyer would believe what your competitor said, if that investor/buyer was savvy with respect to competitive dynamics in the slightest?