Would I devote hours being behind the wheel? No. I would try to find a job UNIXing for food because that's what I know. But we're not talking about me. We're talking about folks who have a driver's license, a clean driving record and can pass a background check. If they don't have to supply the vehicle the financial barrier to entry is much lower.
So yes I honestly think there will be downward pressure on wages for what is essentially a passive job. Sure you have to pay attention to prevent accidents, but that's it. Time to get out dragon dictate and start verbally writing the next Great American Novel.
While shifting the costs of vehicle purchase and maintenance from the driver to Uber is a factor, it's not enough to make driver wages "far less," and Uber has already been offering various assistances to drivers towards vehicle ownership, so nothing very dramatic is happening there -- and in any case, none of that savings will make it to the passenger, who ultimately is paying for the vehicle.
Making "far less" money than a typical Uber driver means around minimum-wage job or below. Let me suggest that there is no large pool of people who are interested in a roughly minimum-wage job with no security or prospect for advancement, who can plausibly save you from dying in a car crash.
(PS: There is no way that Uber would allow its drivers to dictate a novel while a passenger is in the car).