From the investor perspective, I wonder if that's good enough-- the people chasing unicorns and 500% IPO paydays would probably be angrier watching it become a low-margin but functionally useful company, than seeing it close up shop.
Over time, there's a lot of pressure on Uber's margins. The technology and business idea are obvious enough that the moat is pretty low. There's little reason for drivers to not be on every available platform, and you can do a splashy "Download our app to get $20 in credit" to growth-hack a new competitor. So you're always at the risk of someone launching a price war, and even if you can drive them out of the market, you'll have a hard time resetting customer expectations.
> There's little reason for drivers to not be on every available platform
So yes and no. Yes in the sense that switching costs for a driver are very low, but no in the sense that not all platforms provide the same value to drivers. A platform that reduces wait times, batches deliveries, plans better routes, etc. can provide drivers better income per-minute/mile compared to competitors.
For the record I have been stranded, messing around with drivers accepting then rejecting fares and then given up and taken either a street hail taxi or another app. I have even gulped down the fee for cancelling on a driver who drove off in the other direction for 20 minutes.