Sure they do. Again, this is not up to you. There is value to them in knowing your location from the time you make a request, to the time the ride completes. There is also value in them knowing it for a few minutes after.
Just because YOU don't care about that, does not mean they do not, and does not mean the value doesn't exist.
See, that's the thing about capitalism. Uber is clearly trying to maximize their value proposition (on their side), which is fine. But where it gets ugly is when they do it by monetizing your privacy with nothing in return.
But that's the other beauty about capitalism - Uber has competition. If enough people go back to taking cabs, busses or Lyft, then Uber will either reverse this decision or go out of business.
Frankly, I'm not happy with Uber, Lyft, AirBnb... all of them are effectively trying to take over an industry while ignoring all of it's "inconvenient" costs and claiming that magically the rules don't apply to them.