Simply having another player in the field is not competition, despite the federal government's claims.
It is, however, hard to get drivers and customers FOR your ride sharing app.
But even if they were, the drivers are in a competitive labor market. If you get the customers with lower prices then you can also get the drivers because they'd rather be working for your rate than not at all.
Plenty of Uber/Lyft competitors have tried and failed. Heck, a few different companies tried here in Austin once we grew a spine and banned Uber/Lyft, only to die as soon as they came back to town.
Thus, you have economies of scale for multiple reasons (big upfront investments for app and marketing, network effects).
As such, there are high barriers to entry.
then why are there only 2?