I think in this case, the contract workers are the ones taking the L, generally. Taxis are not overpriced just from a lack of competition, but because they are an actual full time job with all that comes along with it, and not well.. part time gamified bullshit where you fight for scraps.
Most of the does EU has Uber now, and Wolt and some others, so it's not like we avoided anything there in practice though.