I don’t know the economics, truly, but there are a LOT more expenses involved in running a large business like Uber on top of driver wages, such as technology service and hardware costs, programmers and central admin/customer service, rent or cost of buildings including utilities, insurance, taxes, fees, consulting and auditing, cybersecurity, legal, and probably quite a bit more I can’t think of. Running a business is friggin expensive.
Definitely not defending paying workers less, just trying to explain why they still might not be in the black even in your scenario.