The main reason I use Uber is because they always have a car available within 5 minutes in SF. If I want cheap I'll call a cab and wait 20 minutes and then call again when they don't show up.

Uber has always been about convenience over price. What other company says "I will disrupt industry X by charging twice the price". Here all they are doing is keeping with the same mission, make sure you can get an Uber as quickly as possible.

I'm for smart regulation, and I certainly agree with price gouging regulation in emergencies, but market pricing is not price gouging.