It could be that Uber is laden with “amateurs” who don’t know how to price their service correctly.
Even if you do, you are in competition with those who don’t, so those who don’t always get the fares.
A taxi company can stay in business if its price is right. If too low, it’s out of business. Business overhead like accounting, garage work, etc., can be amortized over multiple vehicles full time. I doubt an individual, doing their own time for their own accounting etc, can get a better “overhead rate” for that part of the business.
So if Uber is cheaper than taxis, it tells you they are probably not priced right. The company Uber is probably doing fine.
So good for a bit of extra cash in your pocket once and awhile (especially if you don’t pay tax on it) but probably not worth it as a full time gig.
Sort of like how a time share is not a good real estate investment, though it does work spectacularly well for the builder and property managers.
Uber drivers don't set their prices. Uber sets the price, and collects a fee.
The price varies based on the level of service (basically, nicer/larger cars get better rates). During periods of high demand in an area, Uber boosts the price (it's called "surge") to attract more drivers to the area to meet the demand.
Your ignorance on Uber is appalling.