Does the threat of autonomous vehicles justify such a big discount on $UBER?

Taking autonomous vehicles (AV) aside, Uber's value is amazing:

* Monthly Active platform users are booming ( [https://app.rast.guru/?company=Uber](https://app.rast.guru/?company=Uber) )
* Even arpu is growing
* Their net profit margin is close to its top

Now I assume that the discount on its price is based on the threat of AVs threatening the whole business. But is it worth such a large discount? I don't think so, because:

* UBER is investing in AVs and will be able to gradually switch
* Their network effect is huge (I can travel anywhere and keep using the same app)
* AVs are far from reaching Uber's size (yes Waymo took 25% of Uber's share in SF, but it's SF... Scaling operations worldwide in more complex cities is a completely other game)

Do you think the current discount is justified? What did I miss?