This narrative is funny for a couple of reasons. The first being that Taxi companies were never super-profitable nor, generally, did they span multiple metropolitan centres. Uber/Lyft radically centralized Taxi service replacing a supposed "cartel" with a much better capitalized and politically powerful duopoly.

As for the superior service, I'm not sure that will last once the VC funding runs out and these companies have to actually turn a profit. Uber/Lyft is MoviePass writ large.