I wouldn't be surprised if drivers are underestimating their costs. The true cost of vehicle ownership is rather murky and I doubt many of these drivers are self-taught accountants.
That's why the driver attrition rate is so high and Lyft/Uber have to constantly run driver recruitment efforts in mature service areas. After the driver ruins their original car in less than a year, they quickly realize the true operating costs.
Say what you will about the taxi business but at least taxi drivers knew that the gate fee on a leased vehicle was $100/day.
