According to the blog post, they're in closed beta right now, so clearly the service functions. I can't talk about the kinks, since I'm not in the beta, but it's out there.
I'm sure both Uber and Lyft were aware of this feature being designed by their each and are trying to get their respective features out the door.
Ever notice how AWS and Google release price decreases within the same days? Same thing. They have been told it is upcoming and are doing the same thing. I've seen it personally.