Therein lies the problem with 5-star ratings. It's entirely subjective. There's no standard as to what makes an experience a 4-star one instead of a 2-star one. Relevant xkcd: http://xkcd.com/937/
Personally, I think the "thumbs-up/thumbs-down" system does a better job.
Is it an American phenomenon? In Europe I expect a taxi driver to be quick to turn up, helpful and knowledgeable about the destination.
Granted, I don't expect water.
Well, I don't expect enormous leg room and posh seats, just to be comfortable (and clean). It may depend also what you define by those. Very often the car is a Mercedes so I'm rather fine with that. I actually prefer radio on, but never had the trouble to have it turned down or off when I wanted to call someone or chat with the driver.
Including the water, it's what you get from any livery service in Manhattan. I've only been out the bay a few times, but most car services I called were exactly as described here.