There is tremendous pressure to make progress financially. That means more cost-cutting, as Uber did with the elimination of 400 jobs in marketing, and fare prices are bound to go up in this duopoly. Lyft is leaner than Uber, so there is less to cut.
It would have a significant cost implication if they were to reclassify their drivers as employees. I think that would have adverse impacts on their business’s growth and profitability. It would make them more unprofitable to classify them as W-2 employees, not contractors. I don’t think there would be shareholders pushing for such a thing.