For some reason it's controversial but you are correct.

Uber do not provide a fare in advance, as with all private mini cabs in the UK. They are doing a metered service which I understood to be illegal except for black cabs. It's pretty simple.

My main worry is the demise of cheap local cab firms. You can easily get a fare 40% less than Addison Lee or a black cab by going to your local cab firm.

Indeed many bars and clubs have a legal requirement to station a taxi attendant outside to make sure people can get home safe at 4am (black cabs will be impossible at that time for most areas).