True, but the majority opinion driving AB5 seems to be that most drivers are doing this as their full time jobs. Yes, there are those who drive a few hours occasionally as a hobby or for extra side income, but they don't count much. If the number of Lyft drivers falls significantly, consumers will have to wait longer to get a Lyft ride and they will start abandoning Lyft. Hastening the spiral.
Another comment mentioned that Lyft might pay drivers more to keep them, but given that both Uber and Lyft are hemorrhaging money, it seems unlikely that either will be willing to pay drivers more. Also, Uber just needs to pay the same as Lyft for a little while, and just wait out the decline of Lyft due to AB5.