It's easy to see all the folks here who don't remember having to wait an hour for a taxi to show after calling, if it ever did. Pushing a button on your phone and getting a ride five minutes later is magic in comparison.
Don't forget that this thing is subsidized. It never proved to be profitable. These companies invested huge amounts of money in lobbying all over the world, fermenting social unrest and subverting democracy for a failed business model.
They try and play a long game where we both lose workers rights, and have only bad monopolistic transportation available.
I understand your point but I'm not sure it's relevant. Taxis managed to survive for a long time without any artificial money injection, it's probably at a stable equalibrium. Allowing this artificial market to keep growing is just a endorsing a bubble. The bigger it gets the worst the collateral will be when it'll finally collapse.