Maybe it's just my lack of understanding of the subtleties of the situation, but I'm not quite sure why people are surprised that this is happening. Without the

Maybe it's just my lack of understanding of the subtleties of the situation, but I'm not quite sure why people are surprised that this is happening. Without the constraint of regulatory restrictions on the number of people who can drive, there is more supply than demand for drivers. Additionally, apart from that, when multiple companies start competing in the same market, their prices will drop. Given the supply of drivers and the need for companies to compete on fares, why would anyone expect expect pricing to not reach an equilibrium where margins are as low as drivers will tolerate?