For those in charge, it probably worked great. VCs likely dumped their shares on the secondary market right before or after the IPO. (thus completing the "dump" portion of the traditional "pump and dump" scam.)
With the number of board members resigning post IPO there is a high chance that many shares will be sold once the lock up expires. They wouldn't sell before the IPO as would depress the stock price significantly.
The goal is to kill the competition through underpricing and then hike prices, right? Did the killing competition bit fail?
Lyft still exists. Also, it would be trivial for someone to just create their own taxi company if the prices get too high.