You are getting ripped off, you just don't know it yet. Uber lose money to both drivers and passengers on every trip they make (despite fiddling the journey times to gouge both parties). The only reason they do this is do drive proper taxis out of business so they can then jack their prices up. Or did you think they were running at a loss out of the goodness of their hearts?
As to saying you know who is driving, you may have their name but they probably haven't had the proper background checks and may not even be legal to drive. Likewise for MOT, etc on the vehicles they use.
Not that I don't take your point about plenty of other taxis being shit, but it's hardly universal. My local company are pretty good, the drivers are pretty polite, don't rip you off and turn up on time. Not bothered if some of them don't speak great English, I'm not paying them for their conversational skills, and most of the ones I've dealt with a pretty pleasant, regardless of linguistic fluency.
Even if standard taxis are sometimes shit, the answer isn't to replace them with a bunch of regulation-dodging cowboys with as toxic an outfit as Uber. They're the very worst kind of middlemen who try and dodge all responsibility for running a business. I'm still surprised people are using them after all the shit that's been revealed about their dodgy business practices. Using software tailored to hide them from regulators is pretty despicable and is the same sort of shit that got WV fined billions. Then there's the whole issue around them buying the medical reports of a woman who'd been raped by one of their drivers in an attempt to discredit them.
Fucked if I'd give them a penny of my cash, regardless of how shit the alternatives may be.