Netflix makes a good example it is possible to make a major business model adjustment and return shareholders very well. I think investors have a very realistic view of how much the automotive market is about to switch. The companies who provide no evidence of preparing for the switch are just as likely, to me, to see their market cap plummet as ones trying a risky pivot.
Certainly some auto makers may choose to go down the route of executive assisted suicide and maximize shareholder (and executive) profit distributions in the process, as IBM decided to do. To pretend than the next 50 years will be like the last 50, I'm not sure how long that charade can hold up.
Personally I think Google and Apple are the ones who hold all of the chips. This definitely can be turned in to a commodity business with a few OS adjustments. There are some cards Uber can play to avoid this, like exclusive infrastructure agreements, although not really sure where that will be permitted geographically.
A more interesting question is will this look like smartphones where a single company gets 90% of the profits and the rest of the companies do huge volume but capture small to zero margins.