Depends on what angle you’re looking at it from. From the point of view of a company that wants to make money running taxis the cost of licenses and medallions is very much a problem. You’ve got to make sure a driver can make enough money for the $200K they shelled out on the medallion to make sense, which means you’ve got to charge more, and you’re going to price some customers out. That’s a problem.
That problem is, living in a place where it's not practical to own a vehicle.