I would hope not as I doubt there is much overlap between people...

I would hope not as I doubt there is much overlap between people wanting a ride share and those wanting a limo. While I am sure you are right on the revenue side, the hope might be to pick up the "price sensitive" market and act as a bit of a loss leader to get people using the platform.

It may also be a strategic move similar to gumtree and ebay where the aim is to prevent a competitor coming into the market - there is a name for this, but I have forgotten what is called.

If I think at my airport travel I am happy to take a ride share when I am on my own and traveling light, but I prefer a limo after a long 24 hour flight with the wife and kids and too many suitcases.

I guess if they see too much bleeding they can always kill the offering.