True; although one major problem is that for n taxis, you have to pay for n cars and n human salaries, and human salaries end up being the biggest proportion in the final price.
How much will the cost be reduced when we don't have to pay for human drivers anymore? Will we see 50$ a month (2013 dollars) plans for 50 hours of "chauffeuring"? (a quick google search shows that the average american spends ~40h driving a year)
According to [this resarch](http://www.schallerconsult.com/taxi/taxifb.pdf), 57% of the fare (including tip) goes to the driver, 24% to vehicle and gas, 15% to the owner, and 4% to other expenses.
So, the driver is a pretty substantial portion of that. Taking the driver out of the equation would substantially reduce the costs. If you increased medallion availability as well, and the owners were able to work with lower margins (or they were cooperatively owned), you could get the cost down even further, to maybe 1/3 of what taxis currently cost. That would be a huge difference in affordability for everyday use.
How much will the cost be reduced when we don't have to pay for human drivers anymore? Will we see 50$ a month (2013 dollars) plans for 50 hours of "chauffeuring"? (a quick google search shows that the average american spends ~40h driving a year)