Personally, I find it disingenuous to say that Uber offers a worse version of traditional taxi services.
The mobile application, ease of payment, and review ability were all genuinely large improvements over traditional taxi services.
I'm less certain about the two-way marketplace model being an innovation but I think a reasonable person could come to that conclusion.
None of that means that Uber will be a financially stable company going forward nor does it mean that they're a good investment.
But it's a little unfair to pretend they've never offered anything of value.