GPS+Smartphones killed any special skills that drivers needed, so Uber/Lyft wages are being driven down to McDonalds levels, because there is no barrier to entry, and the flexibility provided by Lyft/Uber is actually helpful to people who are already working at a part time job that has shitty unpredictable hours.

And if one of these companies goes under, expect wages to fall further because they do not need to compete with the other.