Many of the advantages ride sharing apps have can be used by traditional taxi services now, and there are a lot of places where taxis are fine, or more reliable than ride sharing. Taxis have their own advantages because of scale though. Lower cost maintenance with only fleet vehicles and from centrally managing maintenance, group rates for insurance, negotiating power when purchasing a fleet of vehicles. Longer term it takes either VC money, or drivers not factoring in depreciation and maintenance to stay price competitive with taxis.