not that it necessarily changes your argument, but the signup bonuses that uber / lyft offer are significantly higher than $5 (closer to $1k), and are structured in such a way to ensure you're not dual-apping.
"A different model of what they are doing is using their massive revenue growth (not profit) to raise money to fund a search for real pricing power with food delivery, shared bikes, and Uber freight."
"A different model of what they are doing is using their massive revenue growth (not profit) to raise money to fund a search for real pricing power with food delivery, shared bikes, and Uber freight."
I suspect this isn't far from the truth.