This is the fallacy of completeness and sounds vaguely like Wassily Leontief's input-output planning and has been proven to not work [1]. In the absence of complete information - demand and supply, "appropriate modeling" will always fall short. Economics has again and again showed that sophisticated models always fail and simple heuristics based models work far better. I suspect a simple rules driven system would work just as well.
Uber big innovation IMHO was making supply extremely flexible by massively lowering cost to become a driver and making it possible to be a marginal driver. As a society, we should run with that innovation. The rest of stuff, the fancy app, the car tracking, the dynamic pricing is fluff hiding the real value add.