Uber can cut the price of their service to 0.
It's impossible for them to cut the cost to 0 (without using magic), but that doesn't make it impossible for us to talk about what the cost being 0 would involve. Travel time is one of the costs you pay for Uber's service. That you don't pay it to Uber doesn't matter. If Uber reduced that cost to 0, you would use Uber a lot more.