If you follow Uber in the US, the drivers' income began to deteriorate over the last 5 years. It's nearly half from the peak. As Narong pointed out, VCs are funding it the company and their promotions but not the drivers income.
In the U.K, many prefer to drive to mini cabs (private vehicles) no different to Uber without the app but long established and very reliable. It is also safer as you can't hail it but must call despatch so there is record and audit trail of who picked you up. Btw the new decal was copied from the UK minicab model.
There is now the growing problem of uber drivers crashing, molest, rape ect despite the tracking.
Until the one or two players win the turf war, the income will continue to fall. Once they win the turf war, price will shoot up and it will back to decent income for drivers, company makes money but consumers have to pay higher fare.
Conclusion, wrong time to be driver unless you own your vehicle and work really hard.