For one, equating breaking law to cutting out middleman. I can't even think of bigger strawman than that. This is not the same. FYI, middleman in Uber/Ola still exist. They partner with larger "middleman" to hire cabs. Because many of the drivers are poor and they can't really get their own cabs. They actually work for someone who used to rent cabs earlier and now has joined the Uber/Ola network. There are some who have gotten Ola/Uber guarantees and bought their own cars. But their number is not that many in spite of the quora answers of unfound Uber riches you might have read.
Second, you are not the only one living in the city. Everyone, including me, have go through the tyranny of autos. But doesn't mean that people need to support something which in your words will/has lead to "subprime crisis". Because there, just because everyone was getting a house doesn't mean you supported the bank, specially if you knew what was coming. There too lax laws to allowed banks to fool people into buying houses. It was people who were hurt at the end, banks got away with it, so will Uber/Ola too. People should always be encouraged to live within their means, not out of it. We are encouraging people to be the failures of the "marshmallow test".
Third, "it stays as long as company is profitable only". Huh???? Uber/Ola has never been making money ...at all. They rely on external VC funding to fund this excess of coupon filled rides. The hope always is there to build enough customers to go public and then VCs get to cash out. What is happening here is basically they are running out of VCs money to dole them. That was the case with Flipkart, Snapdeal, Leco etc too. The only problem is in those cases, the effected party is the end-middle class customer who forgo buying on increased prices. And the employees who unfortunately don't go on strike and no one asks for an MNREGA type program for them.
Fourth, so jobs have been created because you see people pooling with you? I can't express the WTF-ness in this statement at all. If you would have seen the Nariman point guy in the local train then jobs wouldn't have been created?
My takeaway from your points is basically this - you have a comfort of paying 80rs for the cab while avoiding the rush and jam packed Mumbai trains. So Uber/Ola is good, drivers are good, and eff common sense and everything else. If required even give them a secured government type job to ferry me. Makes me wonder - do we now need a meme like "first world problems".