1) one of the great benefits of the existing rideshare services is the lack of needing cash. Payments are going digital, but bitcoin isn't there yet so many of us rely on credit/cash cards. This new service does not accept credit card payments and they tout this as a feature. I'm not so sure.
2) If the app is free for drivers and riders, how is the high cost of operations going to be managed? There are servers that need to be paid for, lots of geo-lookups at scale, which isn't free, etc etc.
3) Anyone can drive any car. No quality assurance, no background checks. Is there even a revue system?
4) Negotiable pricing?? I don't know about you, but I don't want to haggle on the price of a ride. When Lyft or Uber say the price is "x", I accept it, or decide to take another form of transportation. Often, it's the latter.
5) Network effects. How are they going to get drivers & riders. That is the biggest question. How will they manage routing, availability, etc. etc.