I personally don't find anything wrong in surge pricing !
May the algorithm can be more smooth in those cab accelerator apps and there may be some upper limit but don't you think thats how demand and supply works ! That's how we get seats in plane while booking and even while taking seats on airport, that's how we get admission in private schools and colleges (management quota ) . That's how we get Govt. Jobs also ! That's how players got selected in IPL and football. That's how we used to get auto rickshaw few years back and even now also .If the demand is high, you need some filter other there will be mismatch between demand and supply.
There can be cases where the algorithm is not working the way it should work. I am using uber from 8 months but i was not able to find any flaws in the app.
Banning Surge pricing can be a short term solution but thats how you wont be able to match the demand and supply If you are so keen to ban surge pricing and if this is AK first step toward this initiative then you should ban the surge pricing or any facilities which we get by paying an extra amount and it should be an equal market or facilities for everyone.
Just a thought ! No offence