I'm not from the US, never been there. But I thought the context here was obvious. Even still, it's regulated in almost all countries.

I was thinking about Singapore, which pays as little as 2.50 SGD/h at McDonald's, yet has a thriving food scene. (And, yes, they have plenty of regulations eg about food safety. But no minimum wage.)

In any case, perhaps a faulty analogy. But your claim "[...] when Uber undercuts competitors by a large margin using inhumane practices, the competitors tend to vanish over time. In the end, guess who is your only choice." doesn't hold up at all.