On the surface these regulations sound useful, but I've still had a lot of bad experiences in taxis. Not every time I get into a cab, but it's happened a not-insignificant number of times. I've had multiple taxi drivers pretend that the meter is broken, and then try to charge me a ridiculously overpriced fare (which I refused to pay). I've been verbally abused because a driver didn't feel I was travelling far enough to be worth his while. Many drivers smell bad, and have dirty cabs. Female friends have been sexually propositioned, and drunk friends have been taken advantage of.
Since I've started using Uber and Lyft, I've never had any reason to complain. Never mind the lower price; the quality of the service is simply better. Drivers are friendly, and since the payment goes through the app, it's hard to get cheated.
Say what you want about the importance of safety and accountability, and the regulations needed to ensure this. But in my experience, the regulations around taxis don't work as well as whatever Uber/Lyft are doing. I'm guessing that the ratings systems in Uber/Lyft quickly flush out asshole drivers, whereas in the taxi industry you have to go to the effort to file an official complaint. In some cities you need to show up in court to argue your case, which is especially hard when you're using a taxi in a city that you're just visiting, as was the case for me in Sydney.
If the existing regulations don't work, then they're not worth defending. Good luck to Uber.