... it is a minicab company.
If Uber was a ride sharing company then the sharer would share - which means not charge at all, or at most charge for half the petrol used.
As soon as you charge more than that you are not sharing anymore, you are a taxi (do the knowledge in London) or a minicab (stick to the regs) or illegal.
I can see no problem with most of the regs - you want to know the driver can drive, has not been disqualified, passes basic pnc checks (not a wanted criminal), the car is safe and has proper insurance and you wont get ripped off on the fare.
Uber's reasonable complaint imo is that the TFL is under pressure to set a minimum 5m wait time.