Time and time again, Uber has shown that undercutting their competitors in pricing is not done through smart technology or better business models, but by avoiding regulations and getting away with inhumane wages.
The rates and stuff don't look like the main issue, the quote at the summary of his Uber section gives more insight - "The deliveries are too few". I dislike Uber as much as the next guy, but it sounds like they've either got too many couriers or not enough partner restaurants to make it worthwhile for the guys they have working or them.