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A bidding system could conceivably address this, or just a more dynamic pricing system that reduced fare multipliers as demand sagged. (Or does it work this way already?)

Or, just fixed fares and sometimes you can't get a ride. Seems to work for the rest of the transportation system.

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Yeah, the fare multipliers are already dynamic and NYE's riders got a good deal. The issue is that we've had some highly-noticed surge pricing stories so all of the customers figured "oh yeah, it's going to be horrible surge pricing again and I'm going to be stranded at the FOO Bar after they close." So people changed their plans to either include a DD, use public transit, use traditional taxis, or go somewhere within walking distance.

Me and my friends stayed in and drank board games and played tequila.

I was with you until the tequila. Sax on new year's eve is a bad idea.

a more dynamic pricing system that reduced fare multipliers as demand sagged

This is supposedly exactly how it works. Fare multipliers are updated every couple of minutes and fluctuate according to number of available drivers on the road (supply) and number of ride requests (demand).

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