They're not facing strong competition, they're facing extremely weak competition (Lyft is heading toward bankruptcy and can't even manage to sell itself off). They aren't going to lose significant market share, they're going to end up with a modest monopoly, replicating the positions acquired by: Google, Microsoft, Facebook, eBay, Amazon, PayPal, Intel, Cisco, etc. The same story plays out over and over again in tech, and it does so for very obvious reasons.
Who else is threatening Uber in the US for example? Nobody. Who is going to spend billions to take the market away from Uber? Nobody.
Who else is threatening Uber in the US for example? Nobody. Who is going to spend billions to take the market away from Uber? Nobody.