Just curious to know what regulations regular taxis are saddled with?
Cause just about every regular taxi I've ever been in has been a piece of shit on wheels.
It's not really implemented regulations - it's lots of money in fees. Just as licensed building inspectors or electrical contractors have to pay fees every year to stay licensed even in years when there is no re-training or upgrading to do.
If the city unburdened the taxi franchises and plate owners, they'd have to make up this money through some more visible and probably unpopular fees or taxes.
As for vehicle fitness, don't worry, kijiiji already has ads from car scavangers pitching cheap high-mileage wrecks to aspiring Uber operators. In good time when the honeymoon phase is over there will be plenty of Uber cars with bad brakes, rusted out seat bolts and cracking tires.