In defense of the short-sighted public (me), I don’t know the operating costs, profit requirements, accounting model, etc of a hired car service. I can’t assume any time the price of a product goes down, that someone is trying something shady.

I can say I loved Uber et al primarily because unlike any experiences I ever had with calling a taxi, a car actually showed up to bring me to my destination.

If I correctly interpret your definition of “the public” to mean “the common men and women using these services”: it’s a bit unfair to give them the blame, rather than pursue a failure of regulators or regulations.