The issue for drivers is that the rates are too "low". That's not an issue with racing to the bottom. If it was an issue just set a minimum, or minimum cut Ube

The issue for drivers is that the rates are too "low". That's not an issue with racing to the bottom. If it was an issue just set a minimum, or minimum cut Uber will take. Then Uber drivers won't drive for less than they're willing to. That solves that problem.