This. Clearly this has to be the stable state for these services. A taxi is naturally free to operate in a way they see fit (finding narrow strategies and route

This. Clearly this has to be the stable state for these services. A taxi is naturally free to operate in a way they see fit (finding narrow strategies and routes) while an Uber is constrained by a routing system. If you find a taxi, you can expect to pay a more optimized fare considering market dynamics, while an Uber has to suffer very suboptimal requests. In cities like Vancouver, taxis seem to spend much less time idling than Ubers in SF.