Not true, Uber can be 40-60% cheaper. I've stopped taking public transit in the Bay Area because of Uber, I don't think I could do that with Lyft alone. Is there another competitor with cheaper pricing?
It's also not just about the price. A new benefit to having an Amex platinum card is $200 per year in Uber ride credits. I do not plan to return to Uber to use the credits. In fact, this is making me seriously consider not renewing that card when the annual fee comes up in a few months. I don't want Uber getting money from me, even indirectly.
Call me a cynic, but I think you're in the minority, I doubt most people have the moral fortitude to forego $200 in free Uber credits...
60% seems extremely high to me. I'm sure it's happening at some level, but it would have a significant impact on Uber's growth and it opens the door for the 2nd and 3rd place competitors to get traction.
Also, the rates will drop every time there's a new scandal, so there's a compounding effect to the waves of bad press they've had.