Now, "everybody's private driver" was 2x the cost of a cab (at least) so I think it was a better deal for the drivers. But, to your point, the barriers to entry were owning a black car, being licensed, and Uber vetted their drivers very carefully.
Totally different from what they're doing now.
But, I've also never met an Uber driver -- who used to be a cabbie -- that didn't think Uber was a _better_ deal than driving a cab. If you're a cab driver, you also have to rent a cab with a medalion which was an astronomical cost compared to just buying and maintaining a car.
So, I think this study comes off as disingenuous for not comparing Uber and Lyft to the traditional job of driving a cab.