The fact is that the incumbents with all their money are in a good position to defend against anything and counterattack.

When OpenAI was making waves the first time, then Google launched their neutered incapable competitor, I thought it is “over” for Google because why would anyone use search anymore (apart from the 1% of use cases where it gives better results faster), and clearly they are incapable of building good new products anymore…

and now they are there with the best LLMs and they are at the top of the pack again.

Billions of dollars in the bank, great developers, good connections to politicians and institutions mean that you are hard to replace even if you fumble it a couple of times.