"Traditional" taxi does not have to be bad. I think (I may be mistaken?) London taxi drivers are quite polite and also have to memorise the geography of London, which I imagine keeps a lot of would be but lower quality drivers out.
Indeed, but those that spent 2-3 years gaining the knowledge[0] and then paying for their cab, and licence are then being usurped by a Uber driver with a GPS and a cheap car.
Even with the 'star' system the service levels will drop.
[0]https://tfl.gov.uk/info-for/taxis-and-private-hire/licensing...
I agree, But it's still a monopoly that charges monopoly rents, mostly because of "tradition".