Technically you are correct, but you are just nitpicking. We understood exactly what he meant.

My point was the meta-search engine will eliminate the friction and eat the whole pie.

A corollary of this is that whilst meta-search engines didn't take very much of the pie for themselves, the fiercer price-competition they imposed did take a much bigger chunk out of airlines' margins, and particularly the margins of travel agents reselling airline tickets.

Uber at present is a travel agent, not an airline

Just as they have, interestingly, in the airline industry. Most people go to kayak, hipmunk, skyscanner, monondo, etc. The existence of meta search engines are a hint that the service is a commodity and margins will be slim.

In the iOS Maps app if you have both apps installed that is exactly how it works. You just have to click "ride" instead of "transit."