Walking down the path of anarchy and replacing millions of already modestly paid jobs worldwide with even worse jobs, just because Uber provides a better app (an app!), and better service through constant reviews, is not an answer. Don't forget that Uber subsidizes their fares via the wonders of Silicon Valley venture finance. Once they have a monopoly, those prices will go up.
The taxi industry is ripe for changes, but I think few of us would like to be receive personal reviews 40 times a day, and see our already modest income and job security cut even further as we are forced to become independent contractors.
The answer might very well be ensure that the existing taxi companies can use similar apps (which is banned in many cities) and to provide easier access for new companies to compete with the existing taxi companies. In a not so distant future, self driving cars will also be a reality. But I'd rather suffer with the so-so service of the existing taxi industry than hand it all over to a few Silicon Valley billionaires.