I've studied psychology and CS and the difference in how they treat ratings is stark, CS GoT nothing on us! (yes, I did that, I'll get myself of stage now)
A psychologist is paranoid when it comes to quantifying human data. How paranoid you ask? I'll try to capture the sentiment, but I'm sure it's way worse than the following paragraph.
Psychologist: Should I go for a simple yes/no? Well that could useful, but it could also be that I leave too much data on the table. Let me look at tons of research on this topic (hello Google Scholar! Long time no see). Well, if I do 3 stars, then the middle option also becomes a neutral option, which means I'm skewing the data, so I might have to go to 4 possible choices then. Then again, people are more used to the 5 star rating, so that has a plus for usability, but then you'd have the same issue as a 3 choice rating. Maybe I should just use a 7-likert scale type of thing? And obviously, it's also the case that this is an ordinal scale. The property of 1 < 2 < 3 and so on still holds, but the property of 1 + 1 = 2 doesn't. Do people really mean with "2" twice as big compared to a "1"? Are they able to quantify such relationships on any scale? Perhaps quantitatively minded people on a 3 choice scale, but we'd need to do studies about that, but the average user probably not -- still need to do studies about that (and hello Google Scholar, here we meet again in the same paragraph).
CS or UX person with no research background: ah yea, let's do a 5 star rating, that seems cool :)
It's on you Uber.
It's really on you.
Hire psychologists / socially minded statisticians.